Saudi Arabia says plans $100 billion tech fund with Japan's Softbank

Saudi Arabia says plans $100 billion tech fund with Japan's Softbank
 

Saudi Arabia and Japan's Softbank Group (9984.T) signed a memorandum of understanding to create a global technology investment fund that could grow as large as $100 billion, Saudi state media reported on Friday.
Softbank would invest about $25 billion in the fund over five years, Deputy Crown Prince Mohammed bin Salman told state television.
The Public Investment Fund, Saudi Arabia's top sovereign wealth fund, may invest up to $45 billion over that period, while several other large investors could bring the total size of the new fund up to $100 billion, state news agency SPA said without... read more

 
14 October 2016 in Business, Views: 46
Source: Reuters
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