SoftBank Group writes down $555 million in Ola, Snapdeal investments3 min read . Updated: 09 Nov 2016, 08:08 AM IST
SoftBank move comes in at a time when both Ola and Snapdeal are looking to raise fresh funds to sustain amid growing competition from rivals
New Delhi: Japan’s SoftBank Group Corp. has written down as much as 58.1 billion yen ($555 million) in two of its biggest investments in India, cab-hailing firm Ola (ANI Technologies Pvt. Ltd) and e-commerce marketplace Snapdeal (Jasper Infotech Pvt. Ltd), the company said.
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