Reliance buys majority stake in skyTran; Ambani says committed to futuristic tech
- 'Our acquiring majority equity stake in skyTran reflects our commitment to invest in building futuristic technologies that would transform the world,' said Mukesh Ambani
Reliance Strategic Business Ventures Limited (RSBVL) said on Sunday that it has acquired additional equity stake in its investee company skyTran Inc. for a consideration of $26.76 million. With this, RSBVL's shareholding in US-based tech firm increased to "54.46% on a fully diluted basis," from the existing 26.3%, the company said in a regulatory filing. Reliance Strategic Business Ventures Limited is a wholly owned subsidiary of Reliance Industries Limited.
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