Silicon Valley private equity firm Silver Lake has agreed to invest Rs56.6bn ($750m) in Reliance Jio, less than two weeks after Facebook took a $5.7bn stake in Mukesh Ambani’s fast-growing Indian digital services company. Jio, backed by Mr Ambani’s oil-to-retail conglomerate Reliance Industries, has attracted 388m 4G telecom subscribers since it was launched by India’s richest man in 2016. Facebook announced last month that it would pay $5.7bn for 10 per cent of Jio, its second-largest investment after buying messaging platform WhatsApp in 2014. Read More...
Silicon Valley private equity firm Silver Lake has agreed to invest Rs56.6bn ($750m) in Reliance Jio, less than two weeks after Facebook took a $5.7bn stake in Mukesh Ambani’s fast-growing Indian digital services company. Jio, backed by Mr Ambani’s oil-to-retail conglomerate Reliance Industries, has attracted 388m 4G telecom subscribers since it was launched by India’s richest man in 2016. Facebook announced last month that it would pay $5.7bn for 10 per cent of Jio, its second-largest investment after buying messaging platform WhatsApp in 2014.
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