MTN Group will look for minority investors in its African fintech unit after separating the division from its traditional telecommunications business.
Browsing: Mukesh Ambani
The investing world is enthralled by a determined Beijing as it cuts China’s private sector down to size by relentless regulatory action. India’s more subtle manoeuvres in the same direction are going largely unnoticed.
A month before South Africa is due to sell spectrum for 4G and 5G mobile networks, India raised R160-billion in an auction of airwaves.
Just as the Chinese duo of Jack Ma and Pony Ma have carved up major chunks of their country’s Internet businesses, the battle for control of 1.3 billion Indians’ data could become a two-horse race.
A $20-billion fund-raising spree may take India’s Reliance closer to its dream of becoming a digital giant, further threatening the plans of US companies such as Amazon.com, Walmart and Zoom.
Google has agreed to buy a $4.5-billion stake in Jio Platforms, the digital arm of Reliance Industries, adding to a series of large investments from the US into the online venture.
India’s richest man surged past Silicon Valley tech titan Elon Musk as well as Google co-founders Sergey Brin and Larry Page to become the world’s sixth-richest person.
Zoom, one of the few success stories of the Covid-19 pandemic, now faces a new competitor in an app backed by Asia’s wealthiest person Mukesh Ambani.
Intel’s investment arm will pay some $255-million for a small stake in Reliance Industries’ digital unit Jio Platforms, the latest in a slew of share sales that have helped the Indian conglomerate pay down debt.
Facebook will invest $5.7-billion in the digital assets controlled by India’s richest man, the US social-networking giant’s biggest deal since the 2014 purchase of WhatsApp.