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China's Alibaba offloads entire stake in Paytm

China's Alibaba offloads entire stake in Paytm

| @indiablooms | 10 Feb 2023, 10:25 pm

Mumbai/IBNS: China’s Alibaba Group has divested its entire stake in digital payments platform Paytm, news agency ANI reported.

On Friday, Alibaba offloaded its remaining 3.4 percent stake, equivalent to 2.1 crore shares in One97 Communications, Paytm's parent company.

Alibaba held a 6.26 percent stake in the fintech firm at the end of December 2022,  and sold nearly 3 percent of it in January 2023.

In November, Alibaba had also divested a 3 percent stake in food aggregator Zomato.

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