Adani's fintech play: Gautam Adani likely in talks with Vijay Shekhar Sharma to acquire stake in Paytm's parent co
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Adani Group chairman, Gautam Adani, is considering purchasing a stake in Paytm's parent company One97 Communications, reported The Times of India quoting sources familiar with the matter. As per the report, Paytm founder and CEO Vijay Shekhar Sharma visited Adani at his office in Ahmedabad to "finalise the contours of a deal" on Tuesday. If a deal is successfully negotiated between the two first-generation entrepreneurs, it will signify the ports-to-airports conglomerate's entry into the fintech industry, and it will position it against competitors like Google Pay, Walmart-owned PhonePe, and Mukesh Ambani's Jio Financial. Quoting the sources the report said that Adani and Sharma have been in talks for an extended period, with their recent meeting at Adani Corporate House in Ahmedabad on Tuesday focusing on "finalizing the contours of the deal." Additionally, they mentioned that Adani is engaging with West A...