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Jack Ellis · · 1 min readIn brief: Warren Buffett eyes Paytm for first Indian investment
Warren Buffett / Photo credit: freeimage4life
Veteran investor Warren Buffett considers Paytm stake (India). Buffett’s holding company Berkshire Hathaway is said to have been negotiating a stake in the digital payments and ecommerce giant since February. The investment in Paytm’s parent One97 Communications could reach as much as US$350 million.
It is claimed that the deal would represent the first investment in an Indian company by the “Oracle of Omaha.” Buffett – known for his dedication to long-term investment strategies and modest lifestyle in spite of his massive wealth – launched Berkshire India in partnership with Bajaj Allianz in 2011 to sell insurance products in the country, but exited two years later – supposedly due to “excessive regulation.” (Livemint)
Other news
Authorities promise crackdown on transportation sector amid Didi murder controversy (China). The country’s National Development and Reform Commission said that government departments will improve governance of transport service operators, while the police and transport ministry said that Didi holds “unshirkable responsibility” for the rape and murder of a passenger by one of its carpool drivers last week. Didi suspended its Hitch carpooling service at the weekend in response to the incident, while Alibaba-affiliated AutoNavi has also halted its carpool offering. (Reuters)
Editing by Steven Millward
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