Qatar Sovereign Fund in Talks to Acquire Stake in Indian "Reliance Retail"

The Financial Times reported on Wednesday that the Qatari sovereign wealth fund is in discussions to purchase a stake in "Reliance Retail Ventures," owned by Indian billionaire Mukesh Ambani. The newspaper, citing three people familiar with the discussions, stated that the fund is considering injecting investments of about $1 billion into the retail unit, which would give it a stake of approximately one percent, valuing the unit at around $100 billion. The Financial Times added that the Qatari sovereign wealth fund has not yet agreed to the deal, which has not been finalized and may undergo changes.