Japan’s Softbank is reportedly looking to make a $2-3 billion investment in Reliance Industries’ (RIL) telecom arm — Reliance Jio Infocomm (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 percent stake in Reliance Industries’ refining and petrochemical business for $10-15 billion.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
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