Foreseeing regulatory uncertainty, SoftBank sold Paytm stake before share plunge: report

Foreseeing regulatory uncertainty, SoftBank sold Paytm stake before share plunge: report

FILE PHOTO: A Paytm QR code is seen at a grocery shop in Mumbai, India, November 10, 2021. REUTERS/Niharika Kulkarni

SoftBank Group Corp. sold a majority of its stake in India’s Paytm before regulatory scrutiny by the central bank caused the firm’s shares to slump, Bloomberg reported on Thursday quoting Vision Fund’s executive managing partner.

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