Japan's SoftBank is reportedly in talks to invest up to $3 billion in fast-growing Indian operator Reliance Jio Infocomm.
SoftBank's Vision Fund is involved in due diligence on the prospect of the purchase of a stake in Jio that could be worth $2 billion to $3 billion, unnamed sources told ET Now News.
The SoftBank Vision fund has raised $100 billion as part of plans to invest in fast-growing scalable technology companies with transformative potential. Former Deusche Bank executive Rajeev Misra has been appointed to lead the vision fund.
Neither Softbank nor Jio would comment publicly for the report, so the potential for a deal remains unconfirmed for now.
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