Paytm Parent to sell 5.4% stake in Japan company PayPay to SoftBank

Paytm's parent company, One97 Communications, is selling its 5.4% stake in Japanese payment firm PayPay to SoftBank for approximately $280 million. This transaction values PayPay at around $7 billion and adds to Paytm's growing cash reserves, following a recent divestment of its entertainment business.

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