REUTERSIndia's Paytm is not in talks to sell a stake in itself, while neither billionaire Gautam Adani nor his namesake power-to-ports group are looking to buy shares in the embattled digital payments firm, the companies said on Wednesday. However, a spokesperson for the Adani Group told Reuters that neither the group nor Adani himself were in any such discussions. Shares of Adani Enterprises the flagship of the Adani Group, were 0.5% higher, reversing earlier losses. Meanwhile, a media report recently said that the more business-to-business oriented Adani group is looking to expand into more consumer-facing businesses. If a deal with Paytm materialises, it would mark the Adani Group's foray into India's burgeoning digital payments market, which includes Google Pay and Walmart backed PhonePe.

Source: bd News24 May 30, 2024 02:34 UTC