In a crisis-ridden global economy in which cash is king, one of the world’s richest investors, and a prince at that, has met two of India’s biggest tycoons, setting tongues wagging on big deals that could be in the offing.
Saudi Prince Alwaleed bin Talal bin Abdulaziz Alsaud, who recently created a flutter by picking up a $300-million stake in micro-blogging site Twitter, had a few months ago met Reliance Industries Limited (RIL) chairman Mukesh Ambani and Tata Group chairman Ratan Tata.
They discussed investments across a wide array of sectors, including oil, gas, infrastructure and hospitality.
Rich Arab investors are increasingly turning towards emerging economies, such as India, for better returns on their investments, away from the crisis-hit European economies.
An RIL spokesperson said the company would not comment. But a source confirmed that Prince Alwaleed, who is also the chairman of Kingdom Holding Company (KHC), met Ambani at his new residence Antilla, the newly constructed 22-storey house of the RIL chairman at Mumbai’s Altamount Road.
“The two discussed economic and investment issues and KHC's international investments,” said the source, who did not wish to be named.
Ambani and his wife Nita Ambani also hosted a dinner in honour of Prince Alwaleed and his wife Princess Ameerah in the new house.
A meeting also took place between Prince Alwaleed and Ratan Tata, although a Tata Sons spokesperson said the "information was incorrect".
A KHC statement on its website, however, confirmed that Prince Alwaleed and Tata discussed economic issues and investment opportunities.