Investment giant Softbank is in talks to buy a stake in Bharti Airtel’s telecom business and other assets, reported Business Standard.

The Japanese firm may buy stake either directly or indirectly through a holding company, said the report citing sources.

As per the report, there is a long way to go before the deal is finalised as Softbank usually invests in start-ups during the pre-initial public offering (IPO) stage.

However, if the deal gets finalised, it won’t be the first time that Softbank is getting involved with Mittals, the founders of Bharti. The Japanese firm, the report said, has a close relationship with the Mittals, including investments in social media, gaming, e-commerce, and renewable power.

In 2011, Bharti Enterprises and SoftBank set up a 50:50 joint venture, Bharti SoftBank Holdings Pte, to invest in social media, gaming, and e-commerce, the report added. Softbank, the report said, was also one of the investors who took equity in Airtel Africa, helping the company to raise $1.25 billion.