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Warren Buffet's Berkshire Hathaway Reportedly in Talks to Buy Paytm Stake

Warren Buffet's Berkshire Hathaway Reportedly in Talks to Buy Paytm Stake 496s3v

By Reuters | Updated: 27 August 2018 10:49 IST

Highlights

Berkshire is in talks to invest Rs. 20-25 billion in One97 Communications
Warren Buffett is said to pick up a 3-4 percent stake in Paytm's parent
It could be the first direct investment in India by Buffett

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Paytm, the Economic Times reported on Monday. 4kb5p

Berkshire, the conglomerate run by billionaire Warren Buffett, is said to pick up a 3-4 percent stake in Paytm's parent and the deal is being done through a primary subscription of shares, the paper said citing people familiar with the matter.

If materialised, it could be the first direct investment in India by Buffett, it said.

One of Berkshire's key fund managers, Todd Combs, who is also seen as a potential chief investment officer at the company, is leading the transaction, the newspaper reported.

Berkshire's investment could be clinched in the coming weeks, valuing Paytm at over $10 billion (roughly Rs. 70,000 crores), the paper said. Japan's Alibaba Group are among the major backers of Paytm.

Berkshire, One97 Communications, Softbank and Alibaba did not immediately respond to requests seeking comment.

© Thomson Reuters 2018

Disclosure: Paytm's parent company One 97 is an investor in Gadgets 360.

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