12/01/2023 09:51 PM | Click to read full article
Jack Ma’s Alibaba group traded around 3.1% stake in Paytm, India’s digital payment firm through a block deal of $125 million. As of 3 pm IST, the shares fell to 5.8%. A source reported that China’s Alibaba sold the shares at rupees 536 apiece. The company held a 6.26% stake in Paytm as of end-September. As per a source, Alibaba did not do it on its own. It was supported by Morgan Stanley, though both companies denied their comments on request.