RIL acquires majority stake in US-based skyTran Inc
Amazon Takes on Musk's SpaceX with $10B Investment in Internet Satellites Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiary of Reliance Industries Limited (RIL), announced on Sunday that it has acquired majority stake in its investee company skyTran Inc for a consideration of $26.76 million. With this transaction, RSBVL has increased its shareholding to 54.46 per cent on a fully diluted basis, RIL said in a statement. Mukesh Ambani, Chairman and Managing Director of RIL, said: "Our acquiring majority equity stake in skyTran reflects our commitment to invest in b...
Source: ibtimes.co.in