Japan’s SoftBank is reportedly in talks with Tiger Global – the second largest shareholder in ANI Technologies – the parent company of online cab aggregrator Ola to buy the latter’s 15% stake in the company for around $500 million. SoftBank which currently holds about 30% stake in Ola, would increase its share to 45% post the deal.

While SoftBank declined to comment on the matter, Tiger Global did not respond to an email query till the time of going to the press.

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According to Company of Registrar (RoC) filings in November last year, Ola received Rs1,675 crore in a fresh round of funding at a valuation of $3 billion, which was lower than the valuation of $4.5 billion a year prior to it.

Ola, reported revenues of Rs758.23 crore in 2015-16 and a loss of around Rs2,313.7 crore.

Earlier this month, SoftBank at its annual earnings call said that it had incurred losses of $1.4 billion (¥160.419 billion) on investments in e-commerce player Snapdeal and taxi aggregator Ola in the period to March 2017.