SoftBank Vision Fund Sold Down Paytm Stake Before Shares Plunged
A SoftBank store in Tokyo.
Photographer: Takaaki Iwabu/BloombergThis article is for subscribers only.
SoftBank Group Corp. sold a majority of its stake in Paytm before regulatory scrutiny caused the once-celebrated Indian fintech firm’s shares to dive, according to the Vision Fund’s executive managing partner.
The Tokyo-based tech investor saw uncertainty growing in India’s regulatory environment, as well as over Paytm Payments Bank Ltd.’s license, Navneet Govil told Bloomberg News on Thursday.