Berkshire Hathaway has agreed to a in , the of India’s largest digital payments service Paytm . This would mark the first time the investment firm has invested in an Indian startup. According to Indian financial news site Mint, which first broke the news, , the investment firm headed by Warren Buffett, is set to buy shares worth about $300 million to $350 million, at a valuation of about $10 billion to $12 billion.

Another report in Bloomberg says Berkshire Hathaway will acquire a 3% to 4% stake in One97.

’s investors already include SoftBank, which led a $450 million round in Paytm earlier this year, and Alibaba. Already India’s largest digital wallet and payment service with 230 million registered users, Paytm has recently focused on adding a host of new mobile services that could potentially turn it into a WhatsApp competitor, including a messenger and games.

A spokesperson for One97 declined to comment. has also contacted Berkshire Hathaway.



Source link https://techcrunch.com/2018/08/27/berkshire-hathaway-reportedly--to-buy-stake-in-one97-owner-of-paytm/

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