Facebook-Jio deal: Facebook buys 10% stake in Reliance Jio for Rs 43,574 crore.
- The deal, which makes Facebook the largest minority shareholder in Jio, comes after the government approved WhatsApp’s digital payment service.
- Facebook Inc announced a $5.7 billion (Rs 43,574 crore) investment in Reliance Industries Ltd’s telecom unit on Wednesday, making it the largest minority shareholder in Jio Platforms Limited.
- The investment will value Jio Platforms – a digital apps platform – at Rs 4.62 lakh crore. The deal with help Mukesh Ambani-owned RIL reduce debt further and allow the Mark Zuckerberg-led company get a stronger foothold in what is the US major’s largest market.
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Facebook-Jio deal: Markets Open Positive As Reliance Industries Stock Jumps on Facebook Deal
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Facebook buys 10% stake in Reliance Jio: Markets opened on a slightly positive note on Wednesday as Reliance Industries stock jumped 7 percent even as the weakness in the global markets keeps investors jittery.
