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Jio Poised To Rake In Another $1 Bn
Mail Today
|May 29, 2020
Abu Dhabi state fund in talks to buy stake in Reliance digital biz
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.
This story is from the May 29, 2020 edition of Mail Today.
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