ET had also reported that the investment is being led by Todd Combs, one of the fund managers at Berkshire who is a contender for the CIO position at the firm.
The report cites two person familiar with the development who said the deal is likely to close in next few weeks and will value the payments entity at around Rs. 2,000- Rs. 2500 crore.
However, it is the prestige which is involved here, which makes it a massive moment for both Paytm and Indian startup eco-system.
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However, Dotemu is promising a "thumping soundtrack" for the new installment, but the composer for the new game was not named. A reveal trailer for Streets of Rage 4 has been published by Dotemu and SEGA on YouTube this morning.
And this brings us to interesting fact #2. Buffett paid $150,000 for the beach house in the early 1970s, meaning that even with the lower price, he would be making an over 5,100% return on his investment.
Berkshire Hathaway is a roughly $500 billion conglomerate and has more than 90 operating units including the BNSF railroad, Geico auto insurance, Dairy Queen ice cream, Fruit of the Loom underwear, See's sweets and a variety of industrial and chemical operations. Last year, during an interview on a news outlet in the country, he said if he found a worthwhile investment in India he would "be there tomorrow", citing the size of the population and the resulting purchasing power as benefits, according to The Wall Street Journal.
Meanwhile, Buffett will be hoping to get second-time lucky on his India bet - Berkshire had forayed with a much fan-fare into the Indian non-life insurance sector as a corporate agent of Bajaj Allianz General in 2011 but was compelled to shut shop two years later due to lack of profitability and laws constraining foreign stake in companies.
If the talks between Paytm and Buffett is successful, then Paytm will soon become his first Indian investment. If the transaction goes through, it will give Paytm more firepower to strengthen its market leadership against Flipkart-owned Phonepe and Google's Tez besides potential competition from Facebook-owned WhatsApp and Reliance Jio.
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The quake was felt as far away as Baghdad, according to Iraqi state television, which also said there were no injuries recorded. Images on social media showed people being rushed to hospitals, but suggested relatively light damage to infrastructure.
The transaction is among the first of the company's investments in India.
As per Buffett, he doesn't invest in companies whose business model he doesn't understand, and tech is one of them. In the past, Berkshire Hathaway has selectively invested in some publicly listed tech companies, most notably International Business Machines (IBM) Corp. and Apple.
He sold his shares of IBM, but he still owns Apple stock. They realize that technology companies go through a cycle of losses before they start generating cash.
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It's unlikely to brand the new premium phones as the iPhone Xs, as it could be read by consumers as "excess" or 'extra small'. Their overall size will remain similar, making them compatible with existing straps, people familiar with the product said.