SoftBank says to invest $627 million in India's Snapdeal

Reuters News
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Posted: Oct 27, 2014 11:12 PM

TOKYO (Reuters) - Japan's SoftBank Corp said on Tuesday that it would invest $627 million in Indian online retailer Snapdeal, marking the latest investment by the telecommunications company as it expands aggressively overseas.

SoftBank, which bought No. 3 U.S. mobile carrier Sprint Corp last year for $21.6 billion, said earlier this month it was taking a minority stake in Hollywood movie studio Legendary Entertainment for $250 million.

(Reporting By Teppei Kasai; Editing by Chris Gallagher)