Berkshire Hathaway in talks to buy stake in India's Paytm
OMAHA (Reuters) - Berkshire Hathaway Inc is in talks to invest about 20-25 billion rupees ($285.4-356.7 million) in India’s One97 Communications Ltd, the parent of digital payments firm Paytm, the Economic Times reported on Monday.
Berkshire, the conglomerate run by billionaire Warren Buffett, is said to pick up a 3-4 per cent stake in Paytm's parent and the deal is being done through a primary subscription of shares, the paper said citing people familiar with the matter.
If materialized, it could be the first direct investment in India by Buffett, it said.
One of Berkshire’s key fund managers, Todd Combs, who is also seen as a potential chief investment officer at the company, is leading the transaction, the newspaper reported.
Berkshire’s investment could be clinched in the coming weeks, valuing Paytm at over $10 billion, the paper said.
Japan’s SoftBank and China’s Alibaba Group are among the major backers of Paytm.
Berkshire, One97 Communications, Softbank and Alibaba did not immediately respond to requests seeking comment.
About 92 News HD Live Main TV Channel of Pakistan:
92 News (also known as 92 News HD Plus (Channel 92) is a conservative Urdu language TV channel based in Lahore, Pakistan.
Mian Muhammad Hanif is the chairman of the channel.
This TV channel is a subsidiary of Madinah Group under Galaxy Media Group.
The channel's name, 92, is to celebrate the 1992 Cricket World Cup won by Pakistan. The number 92 is also the telephone country calling code of Pakistan, which is another major reason behind the channel's name.
92 News HD is Pakistan’s first HD Plus News Channel. Aims to bring credible & responsible News & important stories from Pakistan & around the World
We bring you Latest Pakistani and International News at 92 News Hd Plus to Read and Watch
We believe in genuine and true journalism, we do not prevail sensation just for ratings.
We do not hide news but never tend to add any unethical content or angling that goes against the norms of our religion Islam and Pakistan's culture.
تازہ ترین خبریں حاصل کرنے کے لیے فوری اطلاع کی اجازت دیں
آپ کسی بھی وقت دائیں طرف نیچے بیل آئیکن پر صرف ایک کلک کے ذریعے آسانی سے سبسکرائب کر سکتے ہیں۔