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Mar 26, 2015

SoftBank-led group in talks to buy stake in Micromax – sources

MUMBAI (Reuters) – A group of investors led by Japanese mobile telecom firm SoftBank Corp is in talks to buy a 20 percent stake in handset maker Micromax Informatics for up to $1 billion, two people aware of the discussions said.

The investment would value Micromax, an unlisted provider of affordable smartphones that competes with South Korea’s Samsung Electronics Co, at around $5 billion, the people said. They did not want to be named because the talks aren’t public.

Mar 26, 2015

SoftBank-led group in talks to buy stake in India’s Micromax -sources

MUMBAI, March 26 (Reuters) – A group of investors led by
Japanese mobile telecom firm SoftBank Corp is in talks
to buy a 20 percent stake in Indian handset maker Micromax
Informatics (IPO-MINF.NS: Quote, Profile, Research, Stock Buzz) for up to $1 billion, two people aware
of the discussions said.

The investment would value Micromax, an unlisted provider of
affordable smartphones that competes with South Korea’s Samsung
Electronics Co, at around $5 billion, the people
said. They did not want to be named because the talks aren’t
public.

Mar 26, 2015

SoftBank leads group in talks to buy up to $1 bln stake in India’s Micromax -sources

MUMBAI, March 26 (Reuters) – A group of investors led by
Japanese mobile telecom firm SoftBank Corp is in talks
to buy a 20 percent stake in Indian handset maker Micromax
Informatics (IPO-MINF.NS: Quote, Profile, Research, Stock Buzz) for up to $1 billion, two people aware
of the discussions said.

The investment would value Micromax, an unlisted provider of
affordable smartphones that competes with South Korea’s Samsung
Electronics Co, at around $5 billion, the people
said. They did not want to be named because the talks aren’t
public.

Mar 25, 2015

Wipro seeks bigger digital market share with “commando” unit

MUMBAI (Reuters) – India’s third-largest IT services exporter Wipro (WIPR.NS: Quote, Profile, Research) is setting up a “commando force” unit next month that will target clients seeking to speed up automation and do more business online, an executive told Reuters.

Rajan Kohli, who will head the newly formed Wipro Digital business, said the unit aimed to generate $1 billion in annual revenue within three years, which would make it one of the company’s top sources of revenue.

Mar 25, 2015

India’s Wipro seeks bigger digital market share with “commando” unit

MUMBAI, March 25 (Reuters) – India’s third-largest IT
services exporter Wipro is setting up a “commando
force” unit next month that will target clients seeking to speed
up automation and do more business online, an executive told
Reuters.

Rajan Kohli, who will head the newly formed Wipro Digital
business, said the unit aimed to generate $1 billion in annual
revenue within three years, which would make it one of the
company’s top sources of revenue.

Mar 20, 2015

Investors fret over exit as prices for start-ups soar

MUMBAI (Reuters) – As billions of dollars flow into India’s booming online economy, some investors are beginning to fret that soaring valuations could hamper market listings and limit their options when it comes to turning paper profits into cash.

India’s rising number of smartphone users, cheaper internet costs and a vast middle class have turned it into one of the hottest markets for investors such as Singaporean wealth fund Temasek Holdings, venture capitalists Accel Partners and Japan’s SoftBank Corp.

Mar 20, 2015

Investors fret over exit as prices for India’s start-ups soar

MUMBAI, March 20 (Reuters) – As billions of dollars flow
into India’s booming online economy, some investors are
beginning to fret that soaring valuations could hamper market
listings and limit their options when it comes to turning paper
profits into cash.

India’s rising number of smartphone users, cheaper internet
costs and a vast middle class have turned it into one of the
hottest markets for investors such as Singaporean wealth fund
Temasek Holdings, venture capitalists Accel Partners
and Japan’s SoftBank Corp.

Mar 12, 2015

Snapdeal drums up custom in Slumdog’s Dharavi

MUMBAI, March 12 (Reuters) – For viewers of Oscar-winning
film “Slumdog Millionaire”, Mumbai’s vast Dharavi slum is a
byword for poverty, but to online retailer Snapdeal.com it is a
battleground for new customers and, it hopes, a source of better
margins.

The company’s aspirations are backed up by serious
investment from the likes of Japan’s Softbank Corp,
which ploughed $627 million into Snapdeal last October, and
could soon get a boost from Chinese e-commerce giant Alibaba
Group, which is in talks for another cash investment, a
source told Reuters on Wednesday.

Mar 3, 2015

Indian taxi group Ola steps up expansion drive

MUMBAI (Reuters) – Ola, India’s largest online taxi business, will more than double its reach by expanding into 200 cities after this week’s acquisition of rival TaxiForSure handed it control of more than 80 percent of the country’s organized cab market.

The company aims to capitalize on India’s low level car ownership, with urbanites deterred by both the expense and the lack of parking space, its 29-year-old Chief Executive Bhavish Aggarwal told Reuters on Tuesday.

Mar 3, 2015

Taxi group Ola steps up expansion drive

MUMBAI (Reuters) – Ola, India’s largest online taxi business, will more than double its reach by expanding into 200 cities after this week’s acquisition of rival TaxiForSure handed it control of more than 80 percent of the country’s organised cab market.

The company aims to capitalise on India’s low level car ownership, with urbanites deterred by both the expense and the lack of parking space, its 29-year-old Chief Executive Bhavish Aggarwal told Reuters on Tuesday.

    • About Nivedita

      "Think all things tech and telecoms. Currently in Mumbai. Previously in Chicago, covering retail, transport and airlines. Joined Reuters in 2008."
      Joined Reuters:
      2008
      Languages:
      English, Hindi, Bengali
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