New Delhi/ Mumbai: Chinese e-commerce giant Alibaba Group Holding Ltd is in advanced talks to invest in Indian online payment platform and e-commerce firm Paytm, two sources with knowledge of the matter said on Tuesday.
Alibaba`s financial arm Ant Financial, which runs the Alipay online payment platform, is already an investor in Paytm`s parent, having agreed in February to buy a 25 percent stake.
One source with direct knowledge of the matter said the new deal would see Alibaba directly invest around $600 million for a share in Paytm that could take the Chinese group`s total holding to around 40 percent of the Indian payments firm.
The fresh investment would value Paytm at around $4 billion.
The sources declined to be named as negotiations are not public.
A spokesperson for Alibaba declined to comment on the development. A spokeswoman for Paytm also declined to comment, but said the group regularly engaged with investors on "various funding opportunities".
