Facebook invests $5.7 billion in India, takes 9.99% stake in Mukesh Ambani’s Reliance Jio
World’s largest social media company announced a major investment in India. Facebook announced today it has invested $5.7 billion for a 9.99% stake in India’s Reliance Jio Platforms, a three-and-a-half-year-old subsidiary of the nation’s most valued firm, Reliance Industries that is owned by Mukesh Ambani. Reliance Jio is the biggest telecom operator in the country with more than 370 million subscribers. This is India’s biggest technology investment deal ever
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