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Facebook to acquire stake in India's Jio Platforms for USD 5.7 bln

2020-04-22 08:57:00| Telecompaper Headlines

(Telecompaper) Facebook has agreed to invest INR 435.7 billion (approximately USD 5.7 billion) into India's Jio Platforms, the holding company of mobile operator Reliance Jio Infocomm. This investment gives Jio Platforms an enterprise value of INR 4.6 trillion (approximately USD 66 billion). Facebook's investment will translate into a 9.99 percent equity stake in Jio Platforms on a fully diluted basis. 

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