Bahrain’s sovereign wealth fund was still in the preliminary stages of investment talks with SoftBank Group.
Wednesday 27, February 2019 BY KUDAKWASHE MUZORIWA
The Chief Executive of Mumtalakat said that the Kingdom’s sovereign wealth fund is no longer looking to invest in SoftBank Group's Vision Fund, reported Reuters.
SoftBank Group’s $100 billion private equity fund, targets the technology sector and has attracted investment from other Gulf sovereign wealth funds such as Saudi Arabia's Public Investment Fund and Abu Dhabi's Mubadala.
Mahmood Alkooheji, the Chief Executive of Mumtalakat, said that the sovereign wealth fund has been in talks SoftBank but it does not seem like they will add value or gain value by investing in Vision Fund.
Mumtalakat, which holds the Bahrain state's stakes in companies including Aluminium Bahrain (Alba) and telecoms company Batelco, has a portfolio valued at over $10 billion.