SoftBank Investment in Paytm Parent Gets Approval From Competition Commission of India

SoftBank Investment in Paytm Parent Gets Approval From Competition Commission of India
  • CCI has approved SoftBank's 20% stake purchase in Paytm's parent company
  • Paytm operates under its parent company One97 Communications
  • In May, SoftBank had invested $1.4 billion in Paytm

Japanese conglomerate SoftBank's 20 percent stake purchase in One97 Communications, which operates digital payments platform Paytm, has been approved by the Competition Commission.

In a tweet, the Competition Commission of India (CCI) said that it has approved "acquisition of 20 percent stake in One97 Communications Ltd by SoftBank Group Corp".

As per a notice submitted by SoftBank to the fair-trade regulator, the combination involves the acquisition of equity shares of One97 Communications Ltd (OCL) by SoftBank Group Corp through SoftBank Group Capital.

In May, SoftBank said it has pumped in $1.4 billion (over Rs. 9,079 crores) in Paytm, marking the largest fund infusion by a single investor in an Indian startup.

SoftBank Group Capital is a wholly-owned subsidiary of SoftBank Group Corp.

OCL is a mobile Internet company and also provides telecommunications value added services. The firm's product segments include mobile payment services and network component services, among others.

Disclosure: Paytm's parent company One97 is an investor in NDTV's Gadgets 360.


For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Xiaomi Redmi Note 4 to Be Available for Purchase Today via Flipkart
Samsung Strikes Deal With Apple to Manufacture A12 Chips for iPhone: Report
Share on Facebook Tweet Snapchat Share Reddit Comment google-newsGoogle News


Follow Us


© Copyright Red Pixels Ventures Limited 2022. All rights reserved.