eBay acquires 5.5% stake in India's Paytm Mall at $3b valuation

eBay has agreed to buy a 5.5% stake in e-commerce marketplace Paytm Mall in a renewed attempt by the San Jose, California-based company to grab a foothold in India’s fast-growing and intensely competitive online retail market.

The companies did not disclose the value of the transaction in a joint statement on Wednesday. eBay and Paytm Mall also did not say whether the agreement contains any provision for eBay to enhance its shareholding in Paytm Mall in the future.

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