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SoftBank's ride-hail ambitions turn to India

Ola's mobile app. Photo: Ola

SoftBank is seeking to increase its stake in Indian ride-hail company Ola, in which it already owns 25%. According to The Financial Times, the Japanese giant is in talks to buy some or all of a 13% to 14% stake currently held by U.S.-based Tiger Global Management.

Bigger picture: SoftBank basically wants to own global ride-hail, having already invested in China's Didi Chuxing, Southeast Asia-focused Grab, Brazil's 99 and launching a multi-billion dollar tender offer for Uber shares.