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SoftBank offloads another 2% in India's Paytm

Reuters
·1-min read
Paytm QR code is seen at a grocery shop in Mumbai

BENGALURU (Reuters) - SoftBank Group has sold an additional 2% in India's Paytm, the latest in a string of selldowns in the digital payments firm.

The Japanese conglomerate, which sold shares between Dec. 19 and Jan. 20, now holds a 5.06% stake in the company, according to an exchange filing on Wednesday.

Paytm has recently seen a spate of selldowns, including the exit of Warren Buffett's Berkshire Hathaway and China's Alibaba Group. The Netherlands-based unit of Chinese fintech firm Ant Financial has also trimmed its stake in the company.

The deal value and identity of the buyers of the shares were not immediately clear.

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SoftBank has loosened its hold on the company over the past few years, trimming its stake through various open market deals.

Shares of Paytm, which are up nearly 19% so far this year, were trading 0.81% lower on Wednesday.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Sonia Cheema)