Official announcements from One97 Communications or SoftBank, financial news reports

Paytm's One97 Communications to Sell Stake in Japan's PayPay to SoftBank for $250 Million (Rs 2,000 crore)

Dec 6, 2024, 10:52 AM

Paytm's parent company, One97 Communications, is set to sell its stake in Japan's PayPay Corporation to SoftBank Group for $250 million (approximately Rs 2,000 crore). This decision aligns with Paytm's strategy to divest non-core assets and strengthen its capital base. The Paytm board has approved the sale, confirming the company's commitment to streamline its operations. The deal reflects a broader trend among tech firms to optimize their asset portfolios in a competitive market. The transaction is expected to bolster Paytm's financial position as it navigates the evolving digital payments landscape.