‘Anil Ambani plans global M&A fund’
Anil Ambani is in talks with George Soros, private equity firm Blackstone and Singapore state investment firm Temasek about launching a $5 billion global buyout fund, a daily reported on Monday.
Ambani, one of India’s richest men who controls top Indian CDMA-mobile services provider, Reliance Communications Ltd., has put up 500 million of his personal wealth and has received commitments of up to $2.5 billion from other investors, the paper said.
The fund, which was likely to be based in Singapore, would focus on firms in telecoms, media, communications technology, software, IT-related and broadband services, the paper said, quoting people familiar with the development.
The fund could look for ‘big-ticket acquisitions’ in Asia and the Middle-East, the paper said.
A spokesman for the Anil Dhirubhai Ambani Group was not immediately available for comment.
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