Paytm denies any deal with Jio Financial, rejects reports and says this

Paytm has refuted rumours that Jio Financial may buy Paytm Wallet, which has been circulating. In an official statement, the company stated that the rumours circulating about such an acquisition are untrue, fictitious, and inaccurate. Paytm made it clear that there hasn't been any conversation about this. Paytm has also released this clarification for Paytm Payments Bank Limited, one of its subsidiaries. According to the release, Paytm Payments Bank has not had any discussions with Mukesh Ambani related to the contemplated acquisition.

Paytm said, "We clarify that the above news is imaginary, baseless and factually incorrect. We are not in talks with anyone in this regard. Our sister company Paytm Payments Bank Limited has also informed us that they are also not holding any kind of talks in this regard." The clarification comes a day after Ambani-led Jio Financial Services (JFSL) clarified that it is not in any talks with crisis-hit One97 Communications to acquire Paytm Wallet.

"We clarify that this news is fictitious and we have not had any conversation in this regard," JFSL said in a communication sent to the stock exchanges. The company was asked by stock exchange BSE to comment on reports that JFSL is in talks with One97 to acquire Paytm's wallet business. After this report, NBFC shares rose 14 per cent on the BSE and closed at Rs 289. Paytm has lost nearly $2.5 billion, or about 43 per cent of its market value after the Reserve Bank of India (RBI) on Wednesday asked Paytm Payments Bank to stop accepting fresh deposits into its accounts or the popular wallet from March. Damage has been done.

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