Jio Financial Services denies being in talks to acquire Paytm’s wallet biz

Jio Financial Services Ltd (JFSL) late on Monday denied reports saying that it was in talks with Paytm to acquire its wallet business.

In a regulatory filing, the company said, “We clarify that the news item is speculative, and we have not been in any negotiations in this regard.”

Earlier, a report in Hindu BusinessLine said that JFSL and HDFC Bank were frontrunners to buy Paytm’s wallet business. Following the report, the shares of JFSL soared over 13 per cent, and the BSE sought clarification from the company on the media reports.