Berkshire is in talks to invest 20 to 25 billion rupees in One97 Communications, the parent company of Paytm, India's largest mobile commerce platform. The investment would translate to a 3 to 4 percent stake in One97.
Berkshire confirmed "the investment was made" in One97 Communications — the parent company of Paytm — and said Buffett was not personally involved in the deal.The Economic Times reported earlier Monday Berkshire was in talks to invest between 20 billion to 25 billion rupees ($286 million to $357 million) and pick up a 3-4 percent stake in One97 Communications. Paytm is India's largest mobile commerce platform and is already backed by Japan's SoftBank and Chinese tech giant Alibaba. Billionaire investor Warren Buffett's Berkshire Hathaway bought a stake in India's largest digital payments company, Paytm, the company confirmed Monday.
