CNBC – 9/29/15: Alibaba and its financial services arm, Ant Financial, have made a “strategic” investment in India’s largest mobile payment and commerce platform, Paytm, as investors flock to get a piece of the burgeoning Indian start-up scene. The deal was disclosed on Tuesday but Alibaba did not reveal the size of the stake or the valuation of Paytm. Ant Financial, which runs services such as the Alipay mobile wallet, already took a 25 percent stake in One97 Communications in February, the owner of Paytm, in a transaction worth around $500 million, according to media reports at the time.
Click here to read more: http://www.cnbc.com/2015/09/29/alibaba-takes-stake-in-indian-mobile-payments-firm-paytm.html
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