Berkshire Hathaway planning to foray into Indian Digital Payments market
Warren Buffet’s Berkshire Hathaway is reportedly preparing to invest 30 to 35 crores in the digital payment sector giant Paytm in India. According to information from two people related to the case, this investment can be announced in the next few weeks. Alibaba and Softbank Supported One 97 Communications has been valued at USD 10 billion.
One person said that with this investment Berkshire Hathaway in Nebraska will acquire 3 to 4% stake in One 97 Communications.
If this deal is completed then this will be Berkshire Hathaway’s first investment in the Indian technology sector. This will also strengthen the Paytm, facing tough competition from rival companies like Phonepay and Google. Paytm is also giving its business a diversification and under it, it is knocking on areas such as investment management and e-commerce.