Ant Group Co., Ltd. is considering selling some of its shares in the operator of One97 Communications Limited (NSEI:PAYTM) (Paytm) to keep its holding within a required threshold, according to people familiar with the matter. The Chinese fintech giant has been discussing options to reduce its stake in One 97 Communications Ltd. after its share percentage increased passively due to share buybacks, the people said, requesting not to be identified because the matter is private. Talks are preliminary and details could change depending on regulatory and pricing concerns, the people added.

Ant didn’t immediately respond to emailed requests for comment. Paytm declined to comment. The deliberations follow Ant affiliate Alibaba Group Holding Ltd.’s sale of its stake in Paytm, as the e-commerce giant pared back investments in India amid growing geopolitical tensions.

Ant’s sale would be for technical and not political reasons, the people added.