India's Ratan Tata buys stake in Chinese phone maker Xiaomi

Apr 26 2015 6:50AM EST | Source: REUTERS Technology

MUMBAI (Reuters) - Ratan Tata, chairman emeritus of the holding company of India's Tata conglomerate, has acquired a stake in Xiaomi Technology [XTC.UL], a deal that is likely to bolster the Chinese phone maker's presence in the world's third-largest smartphone market.