China's Alibaba Group has sold its remaining stake in Indian digital payments firm Paytm through a block deal, India's ANI reportedon Friday, citing sources with knowledge of the matter.
Paytm's stock tumbled as much as 9.3% to 640 rupees.
Over 22.8 million shares of Paytm, or about 3.5% of the company's total share capital, changed hands in 15 blocks at a price between 690.25 rupees and 655 rupees as of 10:54 a.m. IST , according to Refinitiv data.a 3.1% stake in the company through a block deal worth $125 million, a source with direct knowledge of the matter had told Reuters. Before that, the Chinese firm had a 6.26% stake in Paytm.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alibaba says testing ChatGPT-style tool as AI buzz gathers paceChina's Alibaba Group on Wednesday said it is developing a ChatGPT-style artificial intelligence (AI) tool and that it was currently in internal testing.
Read more »
Chinese tech giant Alibaba is working on its own competitor to ChatGPTAlibaba has revealed that it is working on its own competitor to OpenAI's ChatGPT, but would not provide a release date.
Read more »
Chinese e-commerce giant Alibaba plans to join the ChatGPT hypeAlibaba says it's launching its own ChatGPT rival as the AI craze sends some stocks soaring
Read more »
Alibaba is launching a ChatGPT rival too | CNN BusinessAlibaba confirmed Thursday it was launching its own ChatGPT-style tool, becoming the latest tech giant to get behind the hype for the viral chatbot application.
Read more »
ChatGPT effect: Alibaba group to also debut a chatbot soonWith Google caught off guard by ChatGPT, tech companies will look to challenge its dominance with their own versions of chatbots that users want to use.
Read more »
TotalEnergies’ India squall hits at a tricky timeFrance’s $154 bln group has put a hydrogen project with Gautam Adani on hold as he battles short-seller allegations. Total’s Indian exposure is bearable. But it highlights green execution risk just as investors question companies trying to combine renewables and fossil fuels.
Read more »