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Indian-origin Brothers about to clinch £5 Billion Deal with Chinese Computer in UK

Indian origin Brothers about to clinch 5 Billion Deal with Chinese Computer in UK pardesi news 1474426393

Two Indian-born brothers were close to finalize the deal of selling a part of the world’s largest computer hosting network to a Chinese consortium at a whopping £5 Billion.

Davind and Simon Ruben, who were born in Mumbai in India to a wealthy Iraqi-Jewish family before moving to Britain in the 1950s and made their fortune in metals and property , are the owner of Global Switch, a UK based company which has its data centers located from London to Hong Kong and Singapore. The brothers are in talk with a Chinese consortium which is led by Daily Tech, which is also a data center giant founded by Li Qiang to sell off half of their company’s stakes.

As per the terms discussed till date, the Chinese consortium will be taking 50 percent stake in Global Switch within the next few weeks. Subsequently, it is possible for the consortium to take control of the remaining 50 percent stake in future.

It has been said that the management will remain unchanged even though the company stakes will be sold to the Chinese. However, this has not calmed down the concerns of many who are worried about the Chinese gaining control of the digital information and system in UK on a larger scale. The Two Indian-origin brothers were also declared as Britain's richest family, early in 2016.    

Data being the backbone of IT, this stake holding transfer will certainly bring about some change. To what extent that change will be in effect is a matter to be seen later.

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Patrick Callahan

Pardesi News Reporter

Pardesi News Reporter

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