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.