UCWeb denies merger talks with Paytm over its India business
Alibaba-owned internet company UCWeb, which runs web browser UC Browser, has denied merger talks with Paytm over UCWeb's India business as "untrue". "We have been present in India for 7 years...and have a long-term commitment to the country," the company said in a statement. Earlier reports claimed Paytm was in talks to acquire UCWeb's India business for $400-500 million.