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

  • Thread starter Thread starter marvel44
  • Start date Start date
  • Replies Replies: Replies 10
  • Views Views: Views 1,553

marvel44

Believe
News Columnist
Joined
11 Nov 2019
Messages
3,463
Solutions
1
Reaction score
5,086
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:
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