Header Ads

Google reportedly in talks to invest $4 billion in India’s Jio

Facebook had acquired a 9.99% stake in Jio Platforms for $5.7 billion earlier this year.

What you need to know

  • Google is reportedly in "advanced talks" to acquire a stake in Reliance's Jio Platforms.
  • The search giant is looking to invest about $4 billion in Jio Platforms.
  • Jio is India's leading cellular network, with nearly 400 million subscribers.

In April this year, Facebook invested $5.7 billion in Jio Platforms, which is a wholly-owned subsidiary of Reliance Jio, India's leading cellular network. A report from Bloomberg Quint now claims Google is in "advanced talks" to acquire a stake in Jio Platforms.

Citing people familiar with the matter, the publication says the search giant has been discussing an investment of around $4 billion in Jio Platforms. A formal announcement is expected to be made within the next few weeks.

As noted by Bloomberg Quint, Google would become the fourteenth investor in Jio Platforms, if the deal goes through. Just yesterday, chipmaker Qualcomm announced that it will be investing $97 million in Reliance Jio Platforms to acquire a 0.15% equity stake.

Google is investing $10 billion to promote digitization in India

from Android Central - Android Forums, News, Reviews, Help and Android Wallpapers https://ift.tt/2WhiEHK

No comments