Asia Tech Wire (May 29) -- Indian tycoon Gautam Adani is in talks to buy a stake in the parent company of payment platform Paytm, according to the Times of India.

Citing people familiar with the matter, the report said Gautam Adani, chairman of the Adani Group, is considering acquiring a stake in One 97 Communications, the parent company of Indian payment platform Paytm, to enter the fintech sector.

Gautam Adani met with One 97 Communications founder and chief executive Vijay Shekhar Sharma on Tuesday to seek to finalize the contours of the deal, the report said.