The Social Media giant Facebook had already acquired a 9.9% stake in Jio for around $5.7 billion earlier this year and now its time for another tech giant Google to invest in Jio.
What that you must know
- Google is reportedly in “superior talks” to acquire a stake in Reliance’s Jio Platforms.
- The search engine giant Google trying to make investments of about $4billion in Reliance Jio Platforms.
- Reliance Jio is the leading mobile network in India with more than 400 million subscribers.
In this month of April this year, the social media giant Facebook has acquired a 9.9% stake of Reliance Jio Platform for $5.9 billion and it has been reported that the search engine giant Google is planning to acquire some $4 billion worth stake of Reliance Jio Platform. We all know Jio is the leading and top mobile network in India.
Citing individuals aware of the matter, the publication says the search giant has been discussing funding of round $4 billion in Jio Platforms. A proper announcement is predicted to be made inside the subsequent few weeks.
It has been noted that Google would develop into the fourteenth investor in Jio Platforms if the deal goes through. Simply yesterday, chipmaker Qualcomm introduced that it will likely be investing $97 million in Reliance Jio Platforms to amass a 0.15% equity stake. In lower than two months, 13 buyers have purchased a stake in Reliance Industries’ Jio Platforms.
The information comes only a day after Google announced that it will likely be investing $10 billion over the subsequent 5 to seven years to advertise digitization within the nation. With the brand new “Google for India Digitization Fund,” the search large desires to allow entry to information on the web for all Indians in their very own language. The fund can even deal with growing new services that might be related to the distinctive wants of customers within the nation, in addition to empowering small and medium companies.