China's Alibaba Group sold a 3.1% stake in digital payments firm Paytm worth $125 million through a block deal on Thursday, Reuters reported. Alibaba, which held a 6.26% stake in Paytm at the end of September, sold the stake at ₹536.95 rupees apiece. Paytm's stock fell as much as 8.8% to ₹528 in afternoon trading.
