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TOKYO (Reuters) - Japan’s SoftBank Group Corp (9984.T) said on Wednesday it plans to transfer its stakes in ride-sharing firms to the SoftBank Vision Fund, a move which if approved would make the fund one of the world’s biggest investors in the fast-changing industry.

FILE PHOTO: Shop employees of SoftBank Corp work outside its branch in Tokyo, Japan, August 6, 2015. REUTERS/Yuya Shino/File Photo

SoftBank plans to transfer, subject to approval, its combined $12.9 billion stake in Uber Technologies Inc [UBER.UL] and Didi Chuxing. It also aims to transfer its stakes in Grab and Ola, SoftBank Chief Executive Masayoshi Son told a news conference.

The move would provide the fund’s investors - which include Apple Inc (AAPL.O), Hon Hai Precision Industry Co Ltd (Foxconn) (2317.TW) and the sovereign wealth funds of Saudi Arabia and Abu Dhabi - significant exposure to the ride-sharing industry, which is being shaken up by consolidation in which SoftBank is playing a role.

In March, Uber said it would sell its Southeast Asian business to bigger regional rival Grab, with the U.S. ride-sharing firm focusing on a battle with Ola in India.

Son’s reputation as a visionary investor has attracted enough money to create the world’s largest private equity fund which, as of last May, stood at over $93 billion.

When combined with SoftBank’s smaller Delta Fund, SoftBank’s private equity arm had at the end of March invested $29.7 billion in 25 technology firms, with investments this year including dog-walking app Wag and construction startup Katerra.

Steered by founder and CEO Son, SoftBank has become a major global technology investor as it looks to create a group of leading tech companies powered by interconnected devices and artificial intelligence.

The company’s growing technology

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currensceneFLOGO WHTsquareThough not the oldest form of currency, some form of shell money appears to have been found on almost every continent. The shell most widely used worldwide as currency was the shell of Cypraea moneta, the money cowry.

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