SoftBank marks down India's Ola, Snapdeal by $1.4b
SoftBank has marked down the value of part of its investment portfolio, including holdings in India-based online marketplace Snapdeal and ride-hailing app Ola, bringing its total losses in the companies so far to JPY160 billion ($1.4 billion).
In its annual financial report the Japanese conglomerate announced that the loss came from “financial instruments at fair value through profit or loss (FVTPL),” which includes the two companies. The...
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