Billionaire investor Warren Buffett may soon have his first business partner in India. His conglomerate, Berkshire Hathaway, will reportedly invest between $314 million and $357 million (22 billion to 25 billion rupees) for a 3% to 4% stake in One97 Communications, the parent company of Paytm, a digital payments firm.
According to the indian news paper mint, which first reported the news, the deal would likely value One97 at $10 billion to $12 billion. The company most recently raised money at a $7 billion in 2017, following an investment from Japanese conglomerate SoftBank. India’s youngest billionaire, Vijay Shekhar Sharma, owns 16% of One97. Forbes estimates his net worth at $1.7 billion, based on the earlier valuation. Read More
Source : forbes