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Bharti Airtel and Paytm Update: A new update has emerged regarding the deal between telecom sector giant Bharti Airtel and digital payment platform Paytm. It has been said in a report that at present no deal is happening between Airtel and Paytm. No agreement has been reached between the two companies.
According to Moneycontrol’s report, Paytm management has refused to give up management control. The fintech company is not looking at any joint deal in the payment business growth model. Due to this, the agreement to buy the stake could not be made between these two.
Company not involved in any deal
A Paytm representative said that we generally do not want to comment on market speculation. He said that the company is moving ahead fully on its strong development and there is no deal in buying and selling stake. The company is not involved in any such deal.
Sunil Mittal showed interest
During the last week, Bloomberg had reported in its report that Bharti Enterprises founder Sunil Mittal was looking at a deal to convert Airtel Payments Bank into Paytm Bank stock and also showed interest in buying shares from other stock holders.
Loss after Paytm’s IPO
Paytm’s IPO came in the year 2021 during the month of November. The IPO that came at Rs 2,150 has not been able to touch this price yet. The backers of this company include Chinese firm Ant Group and Japan’s SoftBank Group. Mittal’s six-year-old payments bank has 129 million customers.
Paytm’s stock increased
On the other hand, Paytm is increasing the number of products to attract its customers and is trying to tell investors that its earnings are getting better. On Monday, Paytm shares closed at Rs 633.50, up 1.60 per cent.
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