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Softbank sheds $550 million value in India investments, largely in Ola and Snapdeal

Around half the value of the mark-downs is due to the Japanese currency's appreciation against other currencies

Alnoor Peermohamed & Raghu Krishnan  |  Bengaluru 

Japanese investor SoftBank has marked down the value of two of its largest Indian start-up investments Ola and Snapdeal. SoftBank has written off around $550 million in the value of shares in its investments in India, which include ANI Technologies, owns India’s largest cab aggregator Ola, and Jasper Infotech, which runs e-commerce marketplace Snapdeal.

Around half the value of the mark-downs is due to the Japanese currency’s appreciation against other currencies. In its consolidated earnings for the six months ended September, SoftBank reported a loss of 58,140 ...

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First Published: Tue, November 08 2016. 09:20 IST
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