Deals
UBS Fund Pursues $400 Million Stake in SoftBank-Backed Paytm
- Fund run by UBS seeks slice of most valuable Indian startup
- Swiss bank’s clients bet on booming digital payments market
A sign for PayTM online payment in Bengaluru, India.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
UBS Group AG is in talks to invest $400 million in Paytm, the most valuable Indian startup, in a bet on the surging digital payments market in the world’s second-most populous country, people with knowledge of the matter said.
A fund run by UBS’s asset management arm is in discussions to buy a stake in Paytm alongside some of the Swiss bank’s clients, according to the people, who asked not to be identified because the information is private. UBS is negotiating the purchase of Paytm stock from a group of the Indian fintech company’s employees, the people said.