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Paytm Sells PayPay Stake to SoftBank for $279.2M

Hey Payments Fanatic!

Paytm has reached an agreement to sell its stake in Japanese payments firm PayPay to SoftBank for $279.2 million, marking another strategic divestment following regulatory challenges in India earlier this year. The transaction adds to Paytm's recent restructuring efforts, which included the $246 million sale of its entertainment ticketing unit to Zomato in August.

Paytm stated: "We are grateful to Masayoshi-san and the PayPay team for giving us the opportunity to together create a mobile payment revolution in Japan."

The company's cash reserves will increase to $1.46 billion following this sale, as it works to regain market share in India's payments sector after regulatory restrictions on its banking affiliate in January.

The deal concludes Paytm's relationship with SoftBank, which had already divested its Vision Fund shares in June. PayPay, currently led by SoftBank and Yahoo Japan parent Z Holdings, maintains its position as a leading payments app in Japan.

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Cheers,

Marcel

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