The Digital Source For China's Tech Innovation Since 2000

China Tech Buzz

Global News Impacting Chinese Tech

Vijay Shekhar Sharma-Antfin deal: Chinese shareholder reducing stake in Paytm a fundamentally positive, say analysts

News Snapshot:

Paytm founder Vijay Shekhar Sharma buying 10.30% stake in the company from Antfin resulted in a Chinese entity ceasing to be largest shareholder in the company, which analysts believe to be positive for Paytm’s fundamentals and also remove overhang on the stock. On Monday, Paytm announced that Sharma entered into an agreement to purchase a 10.30% stake in the company from Antfin (Netherlands) Holding BV. Antfin will transfer 6.53 crore shares of Paytm to Resilient Asset Management B.V., an entity in which Sharma owns the complete 100% stake. With this, Vijay Shekhar Sharma will increase his holding in Paytm to…

Other China Tech Buzz: