Qatar sovereign fund in talks for stake in India’s Reliance Retail -FT

Qatar sovereign fund in talks for stake in India’s Reliance Retail -FT

Qatar Investment Authority (QIA), Qatar's sovereign wealth fund, is in talks to buy a minority stake in Indian billionaire Mukesh Ambani's Reliance Retail Ventures, the Financial Times reported on Wednesday.

The fund is considering a $1 billion investment in the retail unit, giving it a stake of about 1% and valuing the business at around $100 billion, the FT said, citing three people with knowledge of the discussions.

The Qatari sovereign wealth fund had not yet approved the deal, which itself has not been finalised yet and might change, the newspaper said.

Both QIA and Reliance Retail Ventures did not immediately respond to a Reuters request for comment. (Reporting by Juby Babu in Bengaluru; Editing by Savio D'Souza)

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