Facebook buys 9.9% stake in Reliance Jio platform

Aaj Tak 2020-07-02

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Amid Coronavirus crisis, Facebook has bought a 9.9 per cent stake in Reliance Jio for Rs 43,574 crore, the telecom unit of Reliance Industries Ltd (RIL) in a deal that gives the social media giant a firm foothold in a fast-growing massive market and helps the Indian oil-to-telecom conglomerate to significantly cut debt. The deal values Jio at Rs 4.62 lakh crore.

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