ALIBABA SELLS OVER HALF OF ITS STAKE IN PAYTM AFTER SELLING SHARES IN BIGBASKET AND ZOMATO, RUMOURED TO BE EXITING INDIA
Paytm’s stocks on Thursday saw a sharp downside movement after a block deal that took place where 259,930 shares were sold. The shares were sold at Rs 535.90 worth Rs 13.93 crore. Sources have confirmed that Chinese group Alibaba is behind the block deal, thereby selling about 3.1 per cent of its total equity of about 6 per cent. With this block deal, Alibaba, the sources said, seems to be making an exit from India as it had sold shares in other investments such as BigBasket and Zomato.
Read more at: https://www.opindia.com/2023/01/alibaba-sells-over-half-of-its-stake-in-paytm-rumoured-to-be-exiting-india/
- 13 Jan 2023
- WerIndia
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