Sources: China’s Ant considers Paytm stake sale amid tensions with India

Ant’s possible exit from Paytm would mark another reversal for the Chinese company hot on the heels of the dramatic suspension of its US$37bil (RM150.83bil) stock listing last month, which would have been the world’s largest. It also would be a step back from its ambitions of becoming a global payments leader. — AFP

HONG KONG/NEW DELHI: Chinese fintech giant Ant Group is considering selling its 30% stake in Indian digital payment processor Paytm amid tensions between the two Asian neighbours and a toughening competitive landscape, people with direct knowledge of the matter said.

Financial details of the possible transaction have not been firmed up and Ant, the Alibaba-backed payments-to-consumer credit behemoth, has not launched a formal sale process yet, four people told Reuters.