Tuesday, April 21, 2020

43,574 crore big deal in Facebook-Reliance Jio, now 9.99% FB stake in Mukesh Ambani's company

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Social media platform Facebook has announced a major investment in Reliance Jio on Wednesday morning. The company has invested $ 5.7 billion (Rs 43,574 crore) in Jio. In this way, Facebook has bought a 9.99 percent stake of Reliance Jio. "Today, we announce Facebook's investment of $ 5.7 billion (Rs 43,574 crore) in Reliance Industries' Jio Platform Limited," Reliance Jio said in a statement. After this big deal, Facebook has now become the largest shareholder of Jio.
43,574 crore big deal in Facebook-Reliance Jio, now 9.99% FB stake in Mukesh Ambani's company

On partnering with Facebook, Reliance Industries Chairman and Managing Director Mukesh Ambani said that when Reliance launched Jio in 2016, we were able to improve the quality of life of every Indian and promote India as the world's leading digital society were inspired by the dream of doing . So all of us at Reliance welcome Facebook as our partner to develop and transform India's digital ecosystem.

43,574 crore big deal in Facebook-Reliance Jio

He said that the synergy between Jio and Facebook will meet Prime Minister Narendra Modi's Digital India Mission and its 'Ease of Living' and 'Ease of Doing Business' goals. At the same time, he expressed confidence that after the coronavirus is over, India's economy will be better in the shortest time.

After this deal, Zuckerberg said, "I want to thank Mukesh Ambani and the entire Jio team for their partnership." I am very excited about the new deal. Reliance said in a separate statement that Facebook invested Rs 4.62 lakh crore on Jio platforms assuming a pre-money enterprise value (USD 65.95 billion at USD 70 per dollar).

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