Berkshire Hathaway invests in Paytm

Berkshire Hathaway invests in Paytm

Published
Hot News Text
1 min read
Berkshire Hathaway invests in Paytm
Noida, Aug 28 (IANS) American multinational conglomerate Berkshire Hathaway on Tuesday made an unspecified investment in leading digital payment provider Paytm, a statement said.
"Berkshire's experience in financial services and long-term investment horizon will be an advantage in Paytm's journey of bringing financial inclusion in India," the Noida-based company's Chief Executive Vijay Shekhar Sharma said in a statement.
The investment amount and the stake received in return by American investor Warren Buffett-owned Berkshire Hathaway was, however, not disclosed by the companies.
Nebraska-based Berkshire Hathaway joins Ant Financial, an affiliate of Chinese e-tailer Alibaba, and Japanese multinational SoftBank and Alibaba as some of the key stakeholders in Paytm.
Todd Combs, an investment manager at Berkshire Hathaway has joined the Paytm board of directors, that includes Pallavi Shroff and Mark Schwartz as independent directors, the statement added.
--IANS
bha/nir

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(The Quint is available on Telegram. For handpicked stories every day, subscribe to us on Telegram)

We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.

Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!