Alibaba in Talk to Increase Stake in Paytm by 40 Percent

    Alibaba Group is in talk to increase its stake by 40 percent from 25 percent with the Indian e-trailer, Paytm.

    Alibaba in Talk to Increase Stake in Paytm by 40 Percent

    According to a new report by The Economic Times, Alibaba which first bought stakes at Paytm earlier this year, is in advanced talk with the firm by negotiating to invest over $600 million (approx Rs. 4,000 crore) to get a 20 percent additional stake.

    SEE ALSO: GizBot Giveaway: Win A Free Samsung Galaxy S6, Download UC Cleaner Now!

    The fresh investment includes an outstanding share of the previous transaction, where Alibaba Group was to have pumped in another $375 million, will see Paytm being valued at $3.7 billon (approx Rs. 23, 600 crore).

    "Paytm is expected to be Alibaba's e-commerce play in India. The plan is to create an ecosystem through companies that have large consumer touchpoints," The Economic Times reported quoting the source familiar with the deal.

    Its clear that, Alibaba wants to create an ecosystem of mobile devices, operating systems, electronic payment solution and services.

    SEE ALSO: Meizu MX5 vs Sony Xperia Z3+ vs LG G4: Specs Comparison

    In an earlier report by Economic Times, Alibaba is in talk with Indian smartphone maker, Micromax, to invest about $700 million (Approx Rs. 4,200 crore) with a deal of 20 to 25 percent of stake to Alibaba.

    Source

    Read More About: paytm alibaba
    X

    Stay updated with latest technology news & gadget reviews - Gizbot

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Gizbot sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Gizbot website. However, you can change your cookie settings at any time. Learn more