23 April, 2020
10 Min Read
Jio partnership with Facebook
In a major boost to Reliance Jio, social media giant Facebook is investing $5.7 billion (Rs 43,574) in it, making Facebook its largest minority shareholder. The deal has been announced this morning, with Jio putting out a media note and Facebook talking about it on its official blog post.
Jio said that the Facebook investment that it is receiving is the “largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India.
Reasons for the partnership :
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