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Soros Buys $100 Million Stake in Reliance Entertainment

Billionaire investor George Soros bought a stake worth $100 million in Anil Ambani-controlled Reliance Entertainment Pvt.

Soros bought a 3 percent stake of the privately owned company, Sharad Goel, spokesman for Reliance Entertainment, said in New Delhi today.

The stake sale values Reliance Entertainment, which runs the Big 92.7FM radio stations and social networking and gaming Web sites in India, at $3.33 billion.

Reliance Entertainment may sell shares in an initial public offering, the Hindustan Times reported yesterday, without saying where it got the information. A prospectus detailing the share sale for the stock market regulator is being prepared, the report said. (Bloomberg)

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