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Facebook to buy 10% stake in Mukesh Ambani’s Reliance Jio in $5.7 billion deal

Video Credit: HT Digital Content - Duration: 02:01s - Published
Facebook to buy 10% stake in Mukesh Ambani’s Reliance Jio in $5.7 billion deal

Facebook to buy 10% stake in Mukesh Ambani’s Reliance Jio in $5.7 billion deal

Facebook Inc will pick up about 10% of Jio Platforms, billionaire Mukesh Ambani owned Reliance Industries Ltd’s digital technology arm, for $5.7 billion, both the companies have said.

The US social media company also said the deal would bring together JioMart, an e-commerce venture of Mukesh Ambani, and its WhatsApp platform to enable people to connect with businesses.

The Jio Platforms purchase is Facebook’s biggest since its 2014 acquisition of WhatsApp.


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