Tuesday, 27 July 2021

Facebook ‘commits to India’ with $5.7bn stake in Reliance Jio

by Harry Baldock, Total Telecom
Wednesday 22 April 20

The social media giant has been trying to break into the Indian market for some time and a 10% stake in one of the nation’s leading telcos could be just the way to do it

Facebook have announced today that they have purchased a 10% stake in Indian operator Reliance Jio for the sum of $5.7 billion. The deal was first hinted at last month, but talks had been reportedly delayed due to the coronavirus. However, while the virus shows no signs of slowing in India, it seems that business must go on. The move represents Facebook&rsquo…

Facebook have announced today that they have purchased a 10% stake in Indian operator Reliance Jio for the sum of $5.7 billion. The deal was first hinted at last month, but talks had been reportedly delayed due to the coronavirus. However, while the virus shows no signs of slowing in India, it seems that business must go on. The move represents Facebook&rsquo…

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