Jack Ma-backed Ant Group plans to pare stake in Vijay Shekhar's Paytm

Ant Group Co. is considering selling some of its shares in the operator of Indian financial technology firm Paytm to keep its holding within a required threshold, according to people familiar with the matter. 
 

The Chinese fintech giant has been discussing options to reduce its stake in One 97 Communications Ltd. after its share percentage increased passively due to share buybacks, the people said, requesting not to be identified because the matter is private.

Talks are preliminary and details could change depending on regulatory and pricing concerns, the people added. Ant didn’t immediately respond to emailed requests for comment. Paytm declined