Apple in talks to invest $1 bln in SoftBank tech fund - source

Markets Reuters

Apple Inc has held talks to invest up to $1 billion in a new $100 billion tech fund being set up by Japan's SoftBank Group Corp, a source familiar with the matter told Reuters on Monday.

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SoftBank is investing at least $25 billion in the fund and has been in talks with Saudi Arabia's Public Investment Fund (PIF) for an investment that could go up to $45 billion.

SoftBank has said it plans to make future large-scale investments via the tech fund, rather than on its own.

Some of SoftBank's moves have caused concern among analysts, as the firm wrestles with a 13.7 trillion-yen ($119 billion) debt pile.

SoftBank and Apple were not immediately available for comment.

The Wall Street Journal first reported the news.

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Through the investment, Apple would hope to gain insight on emerging technologies, the Journal said, adding that the status of the talks could not be learned. ($1 = 115 yen) (Reporting by Liana Baker in San Francisco and Anya George Tharakan in Bengaluru; Editing by Shounak Dasgupta and Savio D'Souza)