Indian telecom firm Airtel’s merger talks with Paytm reportedly fall through
Indian telecom giant Bharti Airtel and Paytm’s merger talks have reportedly collapsed and there are no discussions currently ongoing between the firms, according to a CNBC-TV18 report.
Airtel-Paytm merger talks collapse
Last week, reports surfaced that Sunil Mittal, Airtel’s owner, was looking to buy a stake in Paytm and merge Airtel Payments Bank into Paytm Payments Bank. However, sources have told CNBC-TV18 that the talks did not progress as Paytm didn’t want to give up management control and believe the two firms have different business models.
In additional news, Jack Ma’s Ant Group and Japan’s SoftBank Group are reportedly considering selling their stakes in Paytm, according to The Economic Times. Ant Group currently owns around a 25% stake in the firm while SoftBank holds a 13% share.
In May, Ant Financial and Alibaba sold their stakes in Paytm Mall for $5.6 million, citing the evolving online business space in India, the pandemic and wider competition.
