Beijing, 10/2: Chinese company Alibaba is learnt to have sold 3.16 per cent direct stake in digital financial services firm One97 Communications, which operates under Paytm brand, for about Rs 13,600 crore in a block deal, according to sources.
With this deal, Alibaba has sold the entire direct stake in the company. Alibaba had a 6.26 per cent direct stake in Paytm as of December 2022. Of this, it had sold a 3.1 per cent stake in January. The remaining 3.16 per cent was sold on Friday.
“Alibaba has sold its complete direct stake in Paytm in the block deal today,” a source aware of the development said.
Besides Alibaba, its group firm Ant Financial holds around 25 per cent stake in Paytm.