The combined business would be owned 50/50 between shareholders of FCA and Groupe Renault.Autosread more
As trade talks between the U.S. and China increasingly center on Chinese treatment of foreign companies, Beijing says major American complaints about structural aspects of its...China Economyread more
Trump calls the US trade imbalance with Japan "unbelievably large."Politicsread more
Some House members want to lift the cap on state and local tax deductions, but it could be tough, in part because the move is expected to benefit high earners.Politicsread more
Smartphone users in Singapore, the U.K. and China told CNBC's "Beyond The Valley" that foldable smartphones are "very strange," "super bulky," and expensive compared to the...Technologyread more
Economic activity in the U.S. is "quite strong" while China has managed to stabilize its economy, said Tan Min Lan, Asia-Pacific head of chief investment office at UBS Global...World Economyread more
The U.S. is showing signs of targeting China's domestic surveillance and the tech supporting it.Technologyread more
A Beijing decision to rapidly and sharply cut its excessive and unsustainable trade surplus with the U.S. would change for the better the bilateral relationship, writes...World Economyread more
Plant-based protein makers Beyond Meat and Impossible Foods may be taking the food industry by storm, but there's no guarantee their products are healthier than the real...Fast Moneyread more
If you value reliability and quality over a posh cabin and jealous looks, the Lexus LX 570 two-row is the Japanese Range Rover you need.Autosread more
Being a military service member or veteran comes with a unique set of challenges. The good news is that there are government financial programs available to veterans that can...Invest in You: Ready. Set. Grow.read more
(Adds banking source quote)
May 3 (Reuters) - Japan's SoftBank Group Corp is considering an initial public offering of its $100 billion Vision Fund, a source familiar with the matter said on Friday.
The fund was set up in 2017 and has become the world's largest technology investment fund. Its investments include ride-hailing pioneer Uber, chip designer ARM and shared workspace firm WeWork.
The company has publicly stated it plans to set up a second investment fund. The senior banking source said Softbank was now talking to banks about helping it raise money, confirming an earlier report in the Wall Street Journal.
Softbank has spoken to half a dozen banks over the last month about a potential listing of the Vision Fund but has yet to start a formal process, the source said, adding he was not expecting such a process in the near term.
"They asked banks questions on how they could possibly do it. It is still very much in exploration mode," the source said, adding that Softbank had been possibly given the idea by fellow tech investor Naspers, which plans to list some of its assets.
"The big difference is that the biggest asset in the Naspers portfolio is Tencent, which is listed, whereas the portfolio of the Vision Fund is all private," the source said.
China's Tencent Holdings Ltd is a social media and gaming company listed in Hong Kong.
A spokesman for Softbank declined to comment when contacted by Reuters.
SoftBank is also in talks with Oman for an investment in the fund, which has raised nearly all of its funding so far from Saudi Arabia and Abu Dhabi, according to the WSJ report.
Oman was not immediately available for a comment when contacted by Reuters, nor was there an immediate response from the Japanese conglomerate.
SoftBank is seeking to raise new funds for "informal deals" chief executive officer Masayoshi Son negotiated in China for Vision Fund, one of the people told WSJ.
The fund is also planning to double its staff over the next 18 months to keep up with the pace of deal making by SoftBank, the company's top deputies reportedly said at a conference in Los Angeles this week. (Reporting by Clara Denina in London and Aparajita Saxena in Bengaluru; additional reporting by Simon Jessop; Editing by Shounak Dasgupta, Shinjini Ganguli and Georgina Prodhan)