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Facebook eyes multi billion dollar stake in Reliance Jio: FT

Facebook eyes multi billion dollar stake in Reliance Jio: FT
March 25
13:40 2020

Facebook Inc is in talks to buy a multi billion dollar stake in Reliance Industries Ltd’s telecom unit, the Financial Times reported on Tuesday, citing two people with knowledge of the matter.

The report https://on.ft.com/2wyFwc1 said the social media giant was in talks for a 10% stake in Jio, controlled by India’s wealthiest man Mukesh Ambani, but the talks were halted due to global travel bans amid the coronavirus outbreak.

Facebook declined to comment.

Source: The Economic Times

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