Berkshire Hathaway Inc. bought a stake in the company behind Paytm, India’s biggest digital-payments brand, in the conglomerate’s first foray into the country’s startups.
Warren Buffett, Berkshire’s chairman and chief executive officer, wasn’t directly involved in the investment in One97 Communications Ltd., his assistant, Debbie Bosanek, said Aug. 27 in an email. Berkshire is set to acquire 3 percent to 4 percent of One97 in a deal that values the target at more than $10 billion, the people said, asking not to be identified because the discussions are private. Bosanek declined to comment on the size of the investment.
