Paytm and Jio Financial Services Ltd have dismissed reports that they are negotiating acquisition of Paytm wallet.
"We have always made and will continue to make disclosures in compliance with our obligations," Jio Financial Services Ltd said in a statement to the exchanges.
Calling reports about the acquisition "speculative, baseless and factually incorrect," Paytm's parent company One97 Communications Ltd stated, "We have not been in any negotiations in this regard. We have been informed by Paytm Payments Bank Limited, our associate company, that they also have not been in any negotiations in this regard."
This comes after Hindu Business Line reported that HDFC Bank and Jio Financial Services are the top contenders to acquire Paytm wallet, adding that Jio Financial Services has also applied for approval to conduct mutual fund activities in collaboration with BlackRock Financial Management.
On January 31, the RBI imposed asked the Paytm Payments Bank to stop accepting fresh deposits and credit transactions after February 29.
