Swiss bank UBS is currently negotiating a deal worth $400mn with Indian FinTech Paytm, Bloomberg reports.
In Brief:
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UBS wants to invest alongside some of its own clients in the payments business.
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Paytm was most recently valued at $16bn.
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The businesses aim to finalise a deal this month, say reports.
What does this mean?
Paytm already has giants like Softbank and Ant Financial among its investors. The 10-year-old payments giant has yet to turn a profit, but could do so this year according to CEO Vijay Shekhar Sharma.
