Berkshire Hathaway may invest over Rs 20 billion in Paytm's parent firm: Report

Berkshire Hathaway Inc is in talks to invest about 20 to 25 billion rupees ($285.4-356.7 million) in India’s One97 Communications Ltd, the parent of digital payments firm Paytm , the Economic Times reported on 27 August. Berkshire, the conglomerate run by billionaire Warren Buffett , is said to pick up a 3-4 percent stake in Paytm’s parent and the deal is being done through a primary subscription of shares, the paper said citing people familiar with the matter. If materialized, it could be the first direct investment in India by Buffett, it said. [caption id=“attachment_5051001” align=“alignnone” width=“1024”] Paytm. Reuters.[/caption] 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, the newspaper reported. Berkshire’s investment could be clinched in the coming weeks, valuing Paytm at over $10 billion, the paper said. Japan’s SoftBank and China’s Alibaba Group are among the major backers of Paytm. Berkshire, One97 Communications, Softbank and Alibaba did not immediately respond to requests seeking comment.