Facebook will take a $5.7 billion stake in Jio Platforms, giving it the chance to bring WhatsApp into closer partnership with one of India’s biggest telecom providers
Facebook Inc. said it would pay $5.7 billion for just under 10% of Indian telecom operator Jio Platforms Ltd., a massive expansion of the social media giant’s commitment to a promising market where it has faced difficulties.
The deal, unveiled late Tuesday, is Facebook’s largest overseas investment and gives it the opportunity to bring its WhatsApp messaging service—which has more than 400 million users in India—into closer partnership with the mobile operator that upended India’s telecommunications industry with cut-rate...
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Facebook takes $5.7B stake in India digital platformsThe deal will give the US social media giant a 10-percent stake in Jio Platforms, part of Ambani's Reliance Industries empire.
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Facebook Invests $5.7 Billion In India, Buying Stake In Reliance Industries’ Digital Division Jio PlatformsFacebook Tuesday announced a $5.7 billion investment in Jio Platforms Limited, part of Reliance Industries, making the social media giant its largest minority shareholder. In a blog post FB said t…
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Facebook invests $5.7 billion in Jio Platforms, marking a big push into IndiaFacebook's investment in Jio Platforms could be key to giving it access to the company's more than 380 million user base as well as the political backing of billionaire Mukesh Ambani, who is chairman of parent company Reliance Industries.
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Facebook Just Invested $5.7 Billion In India's Largest Telecom CarrierThe deal makes Facebook the largest minority shareholder in Jio.
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