Ron Burgundy Posted April 26, 2015 Share Posted April 26, 2015 Ratan Tata, chairman emeritus of the holding company of India's Tata conglomerate, has acquired a stake in Xiaomi Technology [XTC.UL], a deal that is likely to bolster the Chinese phone maker's presence in the world's third-largest smartphone market. Financial details of the unspecified stake bought by Tata in Xiaomi, the first by an Indian, were not disclosed in the statement issued by the Chinese company on Sunday. Xiaomi, the No. 3 global smartphone maker, was valued at $45 billion after a December funding round. Tata, a respected business leader who was the chairman of salt-to-software Tata Sons for more than two decades, has previously invested in Indian start-ups, including online retailer Snapdeal. View the full article Quote Link to comment Share on other sites More sharing options...
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