The Alibaba Group is pouring more money into Indian payments powerhouse Paytm, with one report putting the investment at the equivalent of about $680 million, giving Alibaba control of 20% of Paytm's parent company, One97 Communications.

Due to the way the investment was structured, Alibaba's share of the Paytm parent company actually dropped from about 25%, following an initial investment earlier this year, according to a report in The Economic Times. The deal, which also involves Alibaba's payments arm, Ant Financial, is complicated because there are multiple deals involving multiple related companies.

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