This story was first published on the Benzinga India portal.
India’s Reliance Industries (RIL) shares climbed more than 2% on Wednesday amid reports that billionaire Mukesh Ambani is in talks with the Qatar Investment Authority (QIA) for the sovereign wealth fund to buy a minority share in Reliance Retail.
What Happened? As reported by the Financial Times, citing people familiar with the matter, QIA, Qatar’s sovereign wealth fund, is discussing investing $1 billion in Reliance Retail, which would represent a stake of around 1%. This deal would value the business at an estimated …