Masayoshi Son, chairman and CEO of SoftBank Group Corp., speaking during a news conference in Tokyo, Japan, on 7 August. “We respect the decision of Snapdeal founders and we are engaged with Flipkart,” Son said after the results were announced. People aware of the matter had said that after the Snapdeal transaction did not work out, SoftBank is now looking at investing upto $2 billion in Flipkart through its SoftBank Vision Fund. For the June quarter, SoftBank posted over 50% rise in operating profit on the back of inclusion of the Vision Fund as a new segment. The SoftBank Vision Fund, which is billed to be the world’s largest private equity fund, booked a valuation gain this quarter.

Source: Mint August 07, 2017 13:54 UTC