Paytm parent company One97 Communication s share price rose 10 percent, rising for 2nd straight session, amid reports that the firm s founder Vijay Shekhar Sharma met FM Nirmala Sitharaman to discuss the RBI s restrictions.
Paytm crisis: Earlier, a group of founders wrote to RBI Governor Shaktikanta Das and finance minister Nirmala Sitharaman, urging them to reconsider and review the regulatory action against Paytm Payments Bank.
Paytm, in an official release, stated that the news item suggesting such an acquisition is speculative, baseless, and factually incorrect. The clarification from Paytm extends to its associate company, Paytm Payments Bank Limited, as well. According to the release, the payments bank has also not engaged in any negotiations related to the speculated acquisition by Mukesh Ambani.
Reports suggested that Mukesh Ambani’s Jio Financial Services is planning to acquire Paytm’s wallet business. Now, Jio Financial Services’ has revealed in a regulatory filing that it is not in talks with Paytm to acquire the wallet service.