SoftBank’s Vision fund may buy stake in Jio, RIL stock climbs
NEW DELHI: Shares of Mukesh Ambani’s Reliance Industries (RIL) climbed 1 per cent in Tuesday’s early trade after reports that SoftBank Vision Fund might invest in its telecom business Reliance Jio.
Japanese SoftBank’s Vision fund is currently undertaking due diligence to buy a stake in Mukesh Ambani-controlled Reliance Jio Infocomm and may invest $2-3 billion, according to ET Now.
Lately, SoftBank has been investing in technology-driven scalable businesses and, according to sources, Jio appears to be suitable for SoftBank’s new spend.