Softbank to orchestrate Flipkart-Snapdeal merger
The Dollar Business Bureau In a new development that has surfaced in India's tumultuous e-commerce industry, Softbank is brokering a merger between arch rivals Flipkart and Snapdeal. Consolidation seems to be a logical step in an environment where no single player is able to decisively emerge successful. It was recently reported that Softbank, the single largest financial backer of Snapdeal, will assume a 15% stake in the combined entity. The Japanese telecom giant is to invest up to $1.5 billion in order to assume a significant partial ownership of the Flipkart-Snapdeal pie. Flipkart, India's indigenous e-tailing platform, fell from its all-time high valuation of $15.2 billion in 2015 to $10 billion in 2017, when it initiated a new round of fund-raising. The Indian Unicorn is said to have bagged $900 million ...
Softbank denies participation in Vodafone-Idea merger
The Dollar Business Bureau After reports of Softbank's plan to buy into the Vodafone-Idea merger hit Indian new sites, the Japanese giant responded by calling the media reports 'unsubstantiated' and 'baseless'. Dismissing the news of its involvement in the telecom merger, Softbank denied any participation. "We would like to categorically deny SoftBank's participation in the alleged Vodafone-Idea Cellular merger in India. We underline that we have held no such discussions and media reports about the same are baseless and unsubstantiated," Softbank said in a written statement. The telecom firm from Tokoyo, which has aggressively invested in tech ventures all over the world, following the e-commerce boom in 2000s, also has investments worth $2 billion in India. Snapdeal, India's highly discounted e-retailer; Ola, a cab service provider; Oyo, a new player in hospitality industry providing hotel ...
SoftBank set to buy ARM Holdings for $32 billion
The Dollar Business Bureau Japan's SoftBank has announced it will buy ARM Holdings, Britain-based designer of microprocessors that power over 95% of the world’s smartphones, for $32 billion. The decision comes barely weeks after Brexit unfolded, a phenomenon which sent the global financial markets crashing down and Pounds crashing over 10% against the dollar. But, Masayoshi Son-led telecoms and internet giant denied that the latest deal was an opportunistic transaction. SoftBank’s CEO said he had been keeping a tab of ARM Holdings for over ten years and identified that the current scenarios presented the best opportunity to make an investment in a company that provides its micro-processing technology to nearly all the smartphone makers including Apple and Samsung. "ARM will be the center of the Internet of ...
Solar energy: Focus must be on policy direction & faster clearances
Jayarama Emani | The Dollar Business Government’s should focus on providing policy direction and faster clearances of investment proposals and projects into the renewable energy sector, said an expert. Speaking to The Dollar Business, R Madhusudhan Rao, MD, Oorja Energy Engineering said, “Large investments into new sector like renewable energy is definitely going to have its ripple effect in multiple directions starting from requirement of trained and skilled manpower to demand for ancillary equipment and services and hence policy direction becomes critical.” He went on to add, “Huge investments are bound to come in to this sector due to the inherent advantages that India has in terms of solar radiation and lower installation costs. Additionally, the continued supply gap for power makes ...
