SoftBank, Ant Group discuss Paytm secondary sale to reduce holding in payments firm

Large investors in One 97 Communications, which operates digital payments major Paytm, including Masayoshi Son’s SoftBank and China’s Ant Group, an affiliate of Alibaba, have discussed selling shares in the company through a secondary stock deal, multiple people in the know of the matter said.

These shareholders and the investment banks representing them had earlier approached telecoms billionaire Sunil Mittal of Bharti Enterprises and another Indian conglomerate with an offer to buy their stakes.