Alibaba (HKG:9988) affiliate Ant Group will sell a 4% stake in One97 Communications' (NSE:PAYTM, BOM:543396) Paytm for $242 million, Reuters reported Monday, citing a term sheet seen by the news agency.
Ant will sell the stake at 809.75 rupees per share, the report said.
The buyers have not yet been disclosed, according to the news agency.
In 2023, Ant divested a 10.3% stake in Paytm to founder and chief executive officer Vijay Shekhar Sharma, the report said.
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