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HONG KONG: 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.
BEIJING (Bloomberg): A bottled-water and vaccine tycoon has become China's wealthiest person in a day also marked by massive losses among the world's tech elite.
SINGAPORE/ NEW DELHI/ BENGALURU: Reliance Industries Ltd, controlled by Asia's richest man Mukesh Ambani, has raised 1.65 trillion rupees ($22.43 billion) over the past few months through stake sales at its digital unit Jio Platforms and its retail arm Reliance Retail Ventures.
Reliance Industries Ltd has asked local suppliers to ramp up production capacity in India so they can make as many as 200 million smartphones over the next two years, according to people familiar with the matter, a potentially enormous boost for the country’s technology ambitions and a warning shot to rivals such as Xiaomi Corp.
MUMBAI: Investor demand for Reliance Industries Ltd’s retail business is so strong that Carlyle Group Inc and SoftBank Group Corp are among those that have been put onto a waiting list, according to people familiar with the matter.
Big Tech is clamouring for a larger piece of India’s booming Internet space, but that increasingly seems to mean going through the country’s richest man, Mukesh Ambani.
Indian conglomerate Reliance denied a report on Sept 10 that it was planning to sell a US$20bil (RM83.35bil) stake in its retail business to US rival Amazon in a deal that could upend the country's hugely lucrative e-commerce sector.
India's Reliance Industries is offering to sell a roughly US$20bil (RM83.33bil) stake in its retail arm to Amazon.com Inc, Bloomberg News reported on Sept 10.
MUMBAI: KKR & Co is in advanced talks to invest at least US$1bil in the retail business of Indian billionaire Mukesh Ambani, according to people familiar with the matter, in what could be another United States investment in the unit following Silver Lake’s deal.