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SoftBank Slashes its Valuation for Indian Hotel Startup Oyo

SoftBank Group has cut the valuation of Indian hotel startup Oyo Hotels on its books by more than 20%, Bloomberg reported. The move by the Japanese investment giant, Oyo’s largest shareholder, comes as the Indian startup is preparing for an initial public offering. SoftBank’s valuation for Oyo has decreased to $2.8 billion in the quarter through June, from its previous valuation of $3.4...

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