China’s Ant Group to sell 4% stake in Paytm for $242 million: Report

China’s Ant Group will sell a 4 per cent stake in Indian payments firm Paytm for $242 million, Reuters reported, citing a term sheet Monday.

Ant, a subsidiary of Alibaba Group, will sell the stake at ₹809.75 per share, the report added. However, the buyer(s) of the stake have not been disclosed yet.