SoftBank set to pour US$1.4b into Paytm

New Straits Times - - Business -

TOKYO: SoftBank Group Corp is in talks to in­vest about US$1.4 bil­lion (RM6.06 bil­lion) in In­dia’s One97 Com­mu­ni­ca­tions Ltd in a deal that would value the owner of Paytm, the coun­try’s largest dig­i­tal-pay­ments provider, at about US$7 bil­lion, ac­cord­ing to peo­ple fa­mil­iar with the mat­ter. The deal was not yet fi­nalised and the terms might change, said the peo­ple. The com­pany was last val­ued at US$4.2 bil­lion, ac­cord­ing to re­search firm CB In­sights. The deal would be a vote of con­fi­dence in the In­dia mar­ket amid a bru­tal down­turn in the ven­ture mar­ket.

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