Softbank may invest in Jio as Mukesh Ambani deleverages business
NEW DELHI: Japan’s Softbank is reportedly looking to make a $2-3 billion investment in India’s fastest-growing telecom firm Reliance Jio as billionaire Mukesh Ambani looks to deleverage business by selling stakes. This comes on the back of reports of Saudi giant Aramco in discussions to buy a 25% stake in Reliance Industries’ refining and petrochemical business for $10-15 billion. “Softbank has long been seen as a potential investor in Jio,” JPMorgan said in a research report.”For the past 2 years, our conversations with investors have highlighted expectations of Softbank investing in Jio and hence…
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