Paytm, Adani say stake buying talks ‘speculative’

One 97 Communication Ltd (OCL), the parent company of Paytm, on Wednesday termed the media report around Gautam Adani eyeing a stake in the company as ‘speculative’.

As per a media report, Gautam Adani, chairman of Adani Group, is looking to buy a stake in Paytm. The report said that Paytm founder Vijay Shekhar Sharma met Adani at the latter’s Ahmedabad office to finalise the contours of the deal.

“…we hereby clarify that the news item is speculative and the Company is not engaged in any discussions in this regard,” One 97 Communications said in a filing to exchanges. When contacted, Adani Group’s spokesperson said, “We categorically deny this baseless speculation. It is totally false and untrue.”