
SoftBank & Ant Group previously offered to sell their Paytm stakes to Bharti Airtel founder-chairman Sunil Mittal.
Ant Group is an online payment services provider that enables individuals and businesses to execute payments online in a secure manner.
Ant Group, formerly known as Ant Financial and Alipay, is an affiliate company of the Chinese Alibaba Group. Ant Financial is the world’s highest-valued FinTech company, and most valuable unicorn (start-up) company, with a valuation of US$150 billion.
In March 2019, The Wall Street Journal reported that Ant’s flagship Tianhong Yu’e Bao money-market fund was the biggest in the world, with over 588 million users of Ant’s mobile payments network Alipay contributing, more than a third of China’s population.
SoftBank & Ant Group previously offered to sell their Paytm stakes to Bharti Airtel founder-chairman Sunil Mittal.
The strategic partnership will see the two parties pull their resources together, in such areas as video content, membership, as well as program broadcasting.
Apart from Fidelity, another investment management company Blackrock also lowered its estimates for Ant in 2022.