“The Saudi Sovereign” is looking for an investment in India’s largest phone company – Saudi News


“Bloomberg” agency revealed that the Public Investment Fund (the Saudi sovereign fund) is considering buying a minority stake in Reliance Industries’ digital unit, which holds 32% of the market share of the mobile sector in India, which is the largest and fastest growing share.Bloomberg said on Friday that potential investment from the investment fund, which manages assets of more than $ 300 billion, will add money to the $ 8 billion that Geo has already raised in three deals in recent weeks.

Direct investment firm Vista Equity Partners said it would buy 2.3% in Geo for 113.67 billion rupees ($ 1.5 billion).

Reliance entered into a $ 5.7 billion deal with Facebook for a 9.99% stake in Geo Platforms on April 22, and days later, it obtained a $ 750 million investment from direct investment firm Silver Lake.


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