Table of Contents
Is Facebook investing in Reliance?
In a statement on Wednesday, the Competition Commission of India said it had approved Facebook’s proposed multi-billion-dollar investment in Jio Platforms for a 9.99\% stake in the top Indian telecom network. …
Does Amazon buy stakes in Reliance?
Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is offering to sell a roughly $20 billion stake in its retail business to Amazon.com Inc. At $20 billion, the deal would be the biggest ever in India as well as for Amazon, according to data compiled by Bloomberg.
Does Facebook own Jio?
The global tech giants are strategic investors in Jio, who will also bring on board their own technology….Mukesh Ambani gave Google and Facebook a discount on Reliance Jio stake — here’s why.
Company | |
---|---|
Investment in Jio | ₹43,574 crore |
Stake in Jio | 9.99\% |
Equity value | ₹4.62 lakh crore |
Why is Amazon blocking future reliance deal?
Amazon has asked India’s antitrust regulator to revoke its approval for Future Retail’s $3.4 billion sale of retail assets to Reliance, saying it was “illegally obtained”, violating an order suspending the deal, a letter seen by Reuters shows.
Will Amazon invest in Jio?
Ambani’s other venture, Reliance Jio Platforms, has secured over $20 billion by selling 33\% stake to more than a dozen investors, including Facebook, Google, Silver Lake and General Atlantic, since April this year. …
Why did Facebook buy reliance stake in Reliance Industries?
NEW DELHI/BENGALURU (Reuters) – Facebook FB.O is set to spend $5.7 billion to buy a 9.99\% stake in Reliance Industries’ RELI.NS digital arm, as it looks to roll out services for India’s grocers and small businesses by capitalizing on WhatsApp’s extensive reach in the country.
Should Ambani be happy with Reliance’s $5 billion investment from Facebook?
The same week that the economics of global oil was flipped on its head, Reliance snapped up a cool $5.7 billion (Rs 43,574 crore) investment from Facebook in return for a 9.99\% stake in Jio Platforms, the subsidiary that will house a majority of the empire’s digital assets. Ambani also has more than a few reasons to be happy.
How much did Facebook invest in Jio platforms?
“Reliance Industries Limited, Jio Platforms Limited and Facebook, Inc. today announced the signing of binding agreements for an investment of Rs 43,574 crore by Facebook into Jio Platforms,” RIL said.
Can Reliance Jio tap into Facebook’s Tech prowess?
Reliance has always pitched Jio as a technology company and it is using its financial muscle to build smart homes, which could rival Amazon’s Alexa-based solutions, connected cars and security systems. For all of those, it could potentially tap into Facebook’s tech prowess.