SoftBank can't buy Ola shares without Founders' approval now
Ola has made changes in its shareholder terms, which now requires its biggest investor SoftBank to get founders, Bhavish Aggarwal and Ankit Bhati, and board's approval to buy shares in Ola. Additional shares too will be issued to the founders to keep their composite Ola shareholding between 10.9% and 12.38%. The move comes amid SoftBank pushing for a Snapdeal-Flipkart merger.