Deutsche Bank exec sells shares in IPL team 23/04/2010 |
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Anshu Jain, co-head of investment banking at Deutsche Bank, has sold his stake in Indian Premier League team the Mumbai Indians, it has emerged.
Jain sold his 10 per cent stake in the team last year, a bank spokesman told Bloomberg this week.
Mukesh Ambani, the world’s fourth-richest man and chairman of Reliance Industries, owns the Mumbai Indians. Jain sold all 15,000 shares in IndiaWin Sports – a unit of Reliance – within a short period of buying them in 2008, IndiaWin said in a statement.
The IPL has more than doubled its brand value to $4.13bn from $2.01bn in 2009, according to Brand Finance.
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