Tue. Jul 7th, 2020

Facebook buys Jio’s 9.9% stake for Rs 43,574 crore

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Facebook buys Jio's 9.9% stake for Rs 43,574 crore

Facebook buys Jio’s stake, Reliance Industries has made a big deal with Facebook in the midst of lockdown part 2 due to the Coronavirus epidemic. The world’s largest social networking site Facebook will buy a stake in Reliance Industries’ telecom arm Jio. For this, Facebook has announced an investment of Rs 43,574 crore in the Jio platform. Through this, Facebook will get a 9.99 percent stake in Jio. That is, Facebook has now become the largest shareholder of Jio after the deal. At the same time, after this investment of Facebook, the enterprise value of Jio has become 4.62 lakh crore.

Value of Jio platform 4.62 lakh crore

This is by far the largest foreign direct investment (FDI) for any minority investment in India. The minority is the world’s largest tech transaction for investment. The pre-money enterprise value for the Jio platform will be $ 6600 million. After the investment, the value of the Jio platform will be 4.62 lakh crore rupees. This partnership will create huge opportunities for people and businesses. Facebook says that this investment reflects his faith in India.

Both have a large customer base

Please tell that Jio was launched in May 2016. After which a phase of cheap data and free calling started in the telecom industry. In this data-wise, gradually, Jio made a foray into the telecom industry. Today Jio has around 38 crore customers and its customer base has become the largest. Talking about Facebook, it has 400 million users in India and the number of internet users is estimated to reach 85 crores this year.

Mukesh Ambani welcomed

RIL Chairman Mukesh Ambani has welcomed Facebook as a long-term partner. He said that this agreement with Facebook will fulfill the mission of Digital India. At the same time, Facebook’s chairman and CEO Mark Zuckerberg thanked Mukesh Ambani for the Jio deal, he said that Jio has made a digital revolution in India in less than 4 years. He also said that he will connect more people of India with Jio. Mark Zuckerberg further said that this investment emphasizes our commitment to India. Facebook buys Jio’s stake

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