SoftBank mulls investing up to $3 billion for stake in Indian mobile carrier Reliance Jio Infocomm: reports

26, Apr. 2019

NEW DELHI, NNA - Japan’s SoftBank Corp. is considering investing up to $3 billion in India’s fastest-growing telecom firm, Reliance Jio Infocomm Ltd., as business magnate Mukesh Ambani looks to sell a stake, according to news reports.

SoftBank’s Vision Fund is undertaking due diligence to buy a stake in Jio Infocomm, which launched 4G technology in September 2016, the reports said.

The reports quoted JPMorgan as saying in a research note that SoftBank had long been seen as a potential investor in the Indian company.