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Paytm sells PayPay stake to SoftBank for $279.2 million
Paytm has agreed to sell its stake in Japanese payments firm PayPay to SoftBank for $279.20 million, as the Indian firm sheds non-core assets following a
The sale of Paytm’s stake in PayPay, which it received through acquisition rights under a 2018 partnership, follows months of restructuring that saw the company sell its entertainment ticketing unit to Zomato for $246 million in August. Shares in Paytm have nearly tripled since June after India’s payments regulator allowed it to resume adding customers to its flagship UPI service. Saturday’s deal marks the end of Paytm’s relationship with SoftBank, which divested its remaining shares in June after being an early backer through its Vision Fund.
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