Google is in talks to purchase a stake in Reliance Industries arm Jio Platforms that are digital. An announcement could come after the upcoming few weeks, the agency said quoting people knowledgeable about the issue.
When the deal happens, Google will combine Facebook and a ton of private equity companies piling into Mukesh Ambani’s technologies venture. Which has attracted more than $15 billion of investments in just a few months. An arm of Qualcomm Inc. has been the latest at Jio’s growing record of high-profile shareholders, that additionally include Silver Lake Partners and Mubadala Investment Co..
Sundar Pichai, neither denied nor confirmed reports of Google’s interest in Jio. The company’s prices for India — almost double the $5.7 billion investment produced by rival Facebook from the electronic system of India’s biggest conglomerate Reliance Industries in April — will likely probably be deployed through a mix of partnerships and investments, Pichai said.
We will take action (deploy capital) through a mixture of equity investments in big Indian companies, startups, partnerships, and in addition to infrastructure investments such as information centres,” he explained. The fund size, he explained, gives an”opportunity to immediately make larger investments” in bigger companies.
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Facebook, that paid $5.7 billion for about 10 percent of Jio Platforms. Has stated it expects the tie up will make WhatsApp the primary way countless India’s small companies connect with clients. The messaging app has approximately 400 million users in the country, roughly the same as Reliance Jio Infocomm Ltd.’s subscriber base for services.