Facebook bought 9.99% stake in Reliance Jio for ₹43,574 crore

[marvel44]

Social media major Facebook will invest Rs 43,574 crore into Jio Platforms, a unit of Reliance Industries, for a 9.99% stake. The investment will value Jio Platforms - a digital apps platform - at Rs 4.62 lakh crore.
"Reliance Industries Limited (“Reliance Industries”), Jio Platforms Limited (“Jio Platforms”) and Facebook, Inc. (“Facebook”) today announced the signing of binding agreements for an investment of Rs 43,574 crore by Facebook into Jio Platforms," Mukesh Ambani-led RIL said in a statement on Wednesday.

Facebook buys 9.99% stake in Reliance Jio for Rs 43,574 cr, largest FDI in India's tech sector

Bloomberg Quint:
Facebook to Invest $5.7 Billion in Ambani’s Jio Platforms

 

[Jagadeesh]

https://twitter.com/x/status/1252796971011715072

Source

 

[Esmail]

Correct the title from 43,474 to 43,574 crore.

 

[iDJ]

@Saichaitanya4496 bro. It's "Quint" not Qunit.

 

[marvel44]

@Saichaitanya4496 bro. It's "Quint" not Qunit.

Yeah bro noticed it! Edit option is not coming so haven't changed

 

[abhishek]

Bro change thread title to 9.99% (decimals do matter in business)

 

[Detective Conan]

Does this mean all jio users might face privacy issue thanks to fb 9.99% stake. I think they would have bought more shares if there was no restrictions.

 

[iDJ]

Does this mean all jio users might face privacy issue thanks to fb 9.99% stake. I think they would have bought more shares if there was no restrictions.

No, I don't think Facebook is in here for data. They just want a piece of a successful business. Plus I ain't no telecom expert have. But I don't think telecom companies have any authority to sell our data to private companies.

 

[Bapun]

Today we are announcing a $5.7 billion, or INR 43,574 crore, investment in Jio Platforms Limited, part of Reliance Industries Limited, making Facebook its largest minority shareholder.

Facebook Invests $5.7 billion in India’s Jio Platforms - About Facebook

 

[yashwanth05852]

https://twitter.com/x/status/1252799507047174145

Source