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.
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