Facebook buys 9.99 percent stake in Reliance Jio Platforms for Rs. 43,574 Crore
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Social networking site Facebook on Wednesday announced that it has bought a 9.99 percent stake in Mukesh Ambani’s digital operation Reliance Jio, for Rs 43,574 crore, in a deal that puts the pre-money enterprise value of Jio Platforms at Rs 4.62 lakh crore. In an official statement, the company said: "Today, we are announcing a USD 5.7 billion, or Rs 43,574 crore, investment in Jio Platforms Limited, part of Reliance Industries Limited, making Facebook its largest minority shareholder."
Social networking site Facebook on Wednesday announced that it has bought a 9.99 percent stake in Mukesh Ambani’s digital operation Reliance Jio, for Rs 43,574 crore, in a deal that puts the pre-money enterprise value of Jio Platforms at Rs 4.62 lakh crore. In an official statement, the company said: "Today, we are announcing a USD 5.7 billion, or Rs 43,574 crore, investment in Jio Platforms Limited, part of Reliance Industries Limited, making Facebook its largest minority shareholder."
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