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

marvel44

Believe
News Columnist
Joined
11 Nov 2019
Messages
3,432
Solutions
1
Reaction score
5,034
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
 
Last edited by a moderator:
  • Like
Reactions: iDJ
Correct the title from 43,474 to 43,574 crore.
 
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.
 
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.
 
Last edited:
Back
Top Bottom
AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock