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SoftBank drops $100-million investment in iPhone rival

SoftBank drops $100-million investment in iPhone rival

Wednesday, March 22, 2017, 10:38 AM

SoftBank Group Corp. scrapped a planned $100 million investment in a smartphone startup founded by the creator of Google’s Android software, partly because of the Japanese investor’s increasingly close relationship with Apple Inc., according to people familiar with the matter. The planned investment would have valued the startup, Essential Products Inc., at $1 billion.
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