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China's Alibaba Group sold a 3.1% stake in Indian digital payments firm Paytm for a total of _______ Million through a block deal on 12th Jan 2023.
A)
$125 Million
B)
$138 Million
C)
$152 Million
D)
$167 Million

Correct Answer :   $125 Million


China's Alibaba Group sold a 3.1% stake in Indian digital payments firm Paytm worth $125 million through a block deal on Thursday (12th Jan 2023), a source with direct knowledge of the matter told Reuters.
 
Alibaba, which held a 6.26% stake in Paytm as at end-September, sold the stake at 536.95 rupees apiece.
 
Paytm's stock fell as much as 8.8% to 528 rupees in afternoon trading, and was last down 5.8% as of 2:37 p.m. IST.
 
Morgan Stanley advised Alibaba on the deal..

Source : Money Control

Published On : January 13, 2023
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