Facebook buys 9.9% stake in Reliance Jio for Rs 43,574 crore in largest tech FDI
The deal between Facebook and Jio comes at a time when WhatsApp is trying to start its digital payment service in India, which will compete with the likes of Paytm and Google Pay.
Mukesh Ambani Explains As To How Will Reliance jio Deal Worth Rs 43,574 Crore With Facebook Will Benefit 3 Crore Small Indian Kirana Shops.
Mark Zuckerberg, in a statement, said:
There's a lot going on in the world right now, but I wanted to share an update on our work in India. Facebook is teaming up with Jio Platforms -- we're making a financial investment, and more than that, we're committing to work together on some major projects that will open up commerce opportunities for people across India.
In early trade Wednesday, the RIL stock was up 6.8% at Rs1,320.55 on the BSE.
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