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Softbank admits wrinkles in its investment in taxi-hailing App Ola

11/15/2016| 3:08:22 PM| 中文

Japanese finance house and investment group Softbank has signaled a financial write-down in its backing of Indian cab-hailing app Ola.

Japanese finance house and investment group Softbank has signalled a financial write-down in its backing of Indian cab-hailing App Ola.

In an earnings report last week, Softbank revealed a loss of USD 555 million of “financial instruments” stemming from two its huge investments in India in recent years.

It later confirmed these instruments over a six-month period up to September 30 this year to be Fair Value Through Proft or Loss in its deals to back Ola and Snapdeal.

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TAGS: Softbank | India | Ola
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