New Delhi: A speculation is being made in the business world that Japan SoftBank is looking to make a USD 2-3 billion investment in India fastest growing telecom firm Reliance Jio as Mukesh Ambani looks to deleverage business by selling stakes.
The speculation has been made on the back of reports that Saudi giant ‘Aramco’ are in talks to purchase a 25 per cent stake in Reliance Industries' refining and petrochemical business for USD 10-15 billion.
In a research report JP Morgan Said, “For the past 2 years, our conversations with investors have highlighted expectations of SoftBank investing in Jio and hence the news flow is not surprising.”
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However, both Reliance and SoftBank spokespersons declined to comment on the matter.
As of now, Jio is the carriage and content vehicle while Reliance Retail is the offline retailer. It remains to be seen where the eventual commerce would sit - Jio or Retail and whether it would be part of any Jio equity stake.