A message is being shared on social media with a claim that Indian business tycoon and Chairman of Reliance Industries Mukesh Ambani has bought US-based urban transportation technology company, skyTran, which has developed technology to run pod taxis.
A Facebook user shared the message with a Hindi caption which reads: “#अमेरिका कि सबसे बड़ी आईटी कंपनी स्काईट्रान को अंबानी ने खरीदा लिया है, लो चमचों अमेरिका भी बिकने लगा,खरीदने वाले भारतीय है।”
(Translation: Ambani has bought America’s largest IT company skyTran, the US is also started selling, and the buyer is an Indian)
NewsMobile fact-checked the post and found it to be misleading.
In our investigation, we searched for related news items and found some media reports which stated that Mukesh Ambani-led Reliance Industries’ subsidiary Reliance Strategic Business Ventures (RSBVL) has acquired an additional equity stake in the company skyTran Inc. for a consideration of $26.76 million. However, we couldn’t find any credible media report which suggested that Ambani has bought the entire skyTran company.
According to a Live Mint report, which cited the company’s statement, RSBVL’s shareholding in US-based tech firm increased to 54.46% on a fully diluted basis from the existing 26.3%.
Similar news was reported by Business Standard on February 28, 2021, headlined: “RIL buys majority stake in skyTran; invested in future tech, says Ambani”
Hence, from the above information, we can say that Reliance has not bought the entire skyTran but a majority stake in it. Therefore, the claim in the viral post is misleading.
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