June 30, 2015 / 8:28 AM / in 2 years

Alibaba Group in talks to buy stake in India’s Paytm: sources

NEW DELHI/MUMBAI (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd is in advanced talks to invest in Indian online payment platform and e-commerce firm Paytm, two sources with knowledge of the matter said on Tuesday.

Guards stand near an entrance to Alibaba's headquarters in Hangzhou, Zhejiang province, China, May 18, 2015. REUTERS/John Ruwitch

Alibaba’s financial arm Ant Financial, which runs the Alipay online payment platform, is already an investor in Paytm’s parent, having agreed in February to buy a 25 percent stake.

One source with direct knowledge of the matter said the new deal would see Alibaba directly invest around $600 million for a share in Paytm that could take the Chinese group’s total holding to around 40 percent of the Indian payments firm.

The fresh investment would value Paytm at around $4 billion.

The sources declined to be named as negotiations are not public.

A spokesperson for Alibaba declined to comment on the development. A spokeswoman for Paytm also declined to comment, but said the group regularly engaged with investors on “various funding opportunities”.

Reporting by Sankalp Phartiyal, Nivedita Bhattacharjee and Paul Carsten; Editing by Clara Ferreira Marques

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below