BENGALURU : China's Alibaba Group sold a 3.1 per cent stake in Indian digital payments firm Paytm worth $125 million through a block deal on Thursday, a source with direct knowledge of the matter told Reuters.
Alibaba, which held a 6.26 per cent stake in Paytm as at end-September, sold the stake at 536.95 rupees apiece, the source said. Paytm's stock fell as much as 8.8 per cent to 528 rupees in afternoon trading, and was last down 5.8 per cent as of 2:37 p.m. IST.Alibaba and Morgan Stanley did not immediately respond to Reuters' requests for comment.
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