Top headlines: Adani may join spectrum race, Musk pulls out of Twitter deal

Elon Musk pulls out of Twitter deal, micro-blogging platform vows legal fight

Softbank CEO Masayoshi Son who has already invested over $4-5 billion in over 15 deals in India through the group’s second Vision Fund, will be looking for smaller ticket sizes. Shinzo Abe’s second run as Japanese prime minister saw investments account for more than ten per cent of India’s overall foreign direct investments (FDI) on more than one occasion. The Adani group is believed to be one of the four companies that on Friday showed interest in the government’s upcoming telecom spectrum auction.

Adani may join telecom spectrum race, compete with Reliance Jio, Airtel, Vi

The Adani group is believed to be one of the four companies that on Friday showed interest in the government’s upcoming telecom spectrum auction. The move would expand the conglomerate’s presence to a sector dominated by established players like Reliance Jio, which is part of Mukesh Ambani-led Reliance group, Sunil Mittal-controlled Bharti Airtel, and Vodafone Idea Ltd. The telecom department’s upcoming auction includes the coveted 5G band needed for high-speed internet connectivity. Read more
 

Twitter vows legal fight after Elon Musk pulls out of $44 bn deal

Elon Musk, the chief executive officer of Tesla and the world's richest person, said on Friday he was terminating his $44 billion deal to buy Twitter because the social media company had breached multiple provisions of the merger agreement. Twitter's chairman, Bret Taylor, said on the micro-blogging platform that the board planned to pursue legal action to enforce the merger agreement. Read more

Japan accounted for more than a tenth of India's FDI under Abe's tenure

Shinzo Abe’s second run as Japanese prime minister saw investments account for more than ten per cent of India’s overall foreign direct investments (FDI) on more than one occasion. (Abe was prime minister from 2006 to 2007 and again from 2012 to 2020.) Japan’s $1.8-billion investments accounted for 11.2 per cent of India’s FDI flows in 2013-14. FDI inflows from the island nation had a 11.7 per cent share in 2016-17 when investments rose to $4.2 billion. Read more

SoftBank to bet on smaller ticket size for the second Vision Fund

Softbank CEO Masayoshi Son who has already invested over $4-5 billion in over 15 deals in India through the group’s second Vision Fund, will be looking for smaller ticket sizes, lower equity holding, and more numbers than what it bet on through its previous fund (the first Vision Fund), say sources in the know. Read more

Rajeev Misra may raise $8-10 bn for his new fund, in talks with gulf royals

Masayoshi Son’s powerful lieutenant Rajeev Misra is looking to raise $8-10 billion for his proposed new fund and has had fruitful talks with funds in Abu Dhabi and Saudi Arabia whose members are from the royal families and who were key backers of the first Vision Fund in which Softbank raised $100 billion. Sources say it is also possible that Son may invest some money in the fund through Softbank or other vehicles, although this could not be confirmed. Read more