Jio Poised To Rake In Another $1 Bn

Mail Today|May 29, 2020

Jio Poised To Rake In Another $1 Bn
Abu Dhabi state fund in talks to buy stake in Reliance digital biz
Sankalp Phartiyal, Saeed Azhar, Sumeet Chatterjee

Abu Dhabi state fund Mubadala is in talks with Reliance Industries about investing around $1 billion in the Indian conglomerate’s Jio platforms, three sources told Reuters.

Twitter is separately also in talks with Mumbai-based Reliance to invest more than $1 billion in the digital start-up, which houses music and movie apps as well its telecoms venture Jio Infocomm, another source added on Thursday.

“Clearly Jio’s platform is attracting a wide range of world-class investors, given its enormous potential to serve one of the world’s largest marketplaces,” Mubadala said in an email, without confirming whether or not talks were taking place.

articleRead

You can read up to 3 premium stories before you subscribe to Magzter GOLD

Log in, if you are already a subscriber

GoldLogo

Get unlimited access to thousands of curated premium stories and 5,000+ magazines

READ THE ENTIRE ISSUE

May 29, 2020