LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Warren Buffett's next slogan - Paytm Karo! What reports say about trendsetting billionaire's first investment in India

Warren Buffett's Berkshire Hathaway has agreed to acquire 3-4 per cent of One97 Communications Ltd, the parent company of Paytm.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Warren Buffett's next slogan - Paytm Karo! What reports say about trendsetting billionaire's first investment in India
Previously, Berkshire, which was set up by Warren Buffet in 2011, had partnered with Bajaj Allianz to sell insurance but exited the partnership after two years. Image: Reuters
Written By: ZeeBiz WebTeam
Updated: Mon, Aug 27, 2018
06:15 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Big Warren Buffett Tip for you: Oracle of Omaha warns these investors Big Warren Buffett Tip for you: Oracle of Omaha warns these investors
The friend everyone wants! Bill Gates bakes cake for Warren Buffet’s 90th birthday, shares video The friend everyone wants! Bill Gates bakes cake for Warren Buffet’s 90th birthday, shares video
Warren Buffet sells all airline stocks, says world has changed for aviation Warren Buffet sells all airline stocks, says world has changed for aviation
Want to become rich in Coronavirus hit economy? Top 5 Warren Buffett inspired money-making tips Want to become rich in Coronavirus hit economy? Top 5 Warren Buffett inspired money-making tips
Gone! Warren Buffett ditches his Samsung flip feature phone, takes to Apple iPhone 11 Gone! Warren Buffett ditches his Samsung flip feature phone, takes to Apple iPhone 11

Warren Buffett's Berkshire Hathaway has agreed to acquire 3-4 per cent of One97 Communications Ltd, the parent company of Paytm. Buffett will acquire 3-4 per cent of One97 Communications Ltd, news agency Bloomberg reported. Berkshire was in talks to invest around 20-25 billion rupees ($285.4-356.7 million) in One97 Communications Ltd, the parent company of Paytm, Mint had reported earlier. 

This could be Buffett's first direct investment in an Indian company, Mint reported quoting people aware of the development. It said that Paytm, India's largest payment services provider, has been in talks with Berkshire to raise Rs 2000-2500 crore at a valuation of about $10-12 billion. 

According to the reports, the deal could be announced within the next two weeks. Paytm's major backers are Japan's SoftBank and China's Alibaba. 

According to a report by The Economic Times, one of Berkshire`s key fund managers, Todd Combs, who is also seen as a potential chief investment officer at the company, is leading the transaction. 

Welcome deal!

Previously, Berkshire had partnered Bajaj Allianz in 2011 to sell insurance but exited the partnership after two years. 

Buffett's expected long-awaited investment in India is being seen as an endorsement of India's booming tech ecosystem. 

Warren Buffett and his partners have backed some of the more profitable and trendsetting companies of the 20th century since 1950s including See's Candies, the Washington Post, GEICO, Coca-Cola, US Air, Wells Fargo, and IBM. Berkshire recently exited IBM but continues to own Apple stock. 

Paytm is run by billionaire Vijay Shekhar Sharma. His real-time net worth is $1.7 bn, according to Forbes.

Watch this Zee Business video

Online and mobile-based payment services are expected to take a giant leap in the country in the coming years. A report on Sunday said that hiring activity in the non-banking financial companies (NBFC) sector is likely to expand by up to 35-40 per cent in the next 12 months, leading to the generation of 2,50,000-3,00,000 jobs in near future. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Warren BuffetBerkshire Hathway
RELATED NEWS
Big Warren Buffett Tip for you: Oracle of Omaha warns these investors Big Warren Buffett Tip for you: Oracle of Omaha warns these investors
The friend everyone wants! Bill Gates bakes cake for Warren Buffet’s 90th birthday, shares video The friend everyone wants! Bill Gates bakes cake for Warren Buffet’s 90th birthday, shares video
Warren Buffet sells all airline stocks, says world has changed for aviation Warren Buffet sells all airline stocks, says world has changed for aviation
Want to become rich in Coronavirus hit economy? Top 5 Warren Buffett inspired money-making tips Want to become rich in Coronavirus hit economy? Top 5 Warren Buffett inspired money-making tips
Gone! Warren Buffett ditches his Samsung flip feature phone, takes to Apple iPhone 11 Gone! Warren Buffett ditches his Samsung flip feature phone, takes to Apple iPhone 11

LATEST NEWS

Infosys Share price: Sharekhan retains Buy rating with a price target of Rs 1650

MTAR Technologies IPO: Last Day to subscribe for the issue, retail portion subscribed over 16 times on 2nd day

Exclusive: Power Grid InvIT IPO to be launched soon; to be game-changer for company, Anil Singhvi says

NMDC share price: Sharekhan re-initiates coverage with a Buy rating and price target of Rs 165

Heranba Industries IPO Listing today: Retail Investors are expecting good returns

Billie Piper has ''abandonment issues''

Market Guru in talk with RJ Salil Acharya of Radio City: People can invest in infrastructure-related stocks like L&T and Adani ports

SBI Share Price: Investors Alert! Maximise your profit, market experts have this advice for you

Meet Alia Bhatt's ''magical boys'' from sets of ''Brahmastra''

Stocks in Focus on March 5: Heranba Industries, MTAR Technologies Fertilizer Stocks, MAX Healthcare to WIPRO; here are the 5 Newsmakers of the Day

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved