Google has become the latest high-profile investor in India’s Reliance Jio Platforms. The search giant is investing $4.5 billion for a 7.7% stake in the top Indian telecom network, Reliance Jio Platforms chairman Mukesh Ambani said on Wednesday.
The investment today from Google is one of the rare instances where the Android-maker has joined Facebook in backing a firm. Facebook invested $5.7 billion in Reliance Jio Platforms, which has amassed over 400 million subscribers, in April this year.
Jio Platforms, a subsidiary of Reliance Industries (India’s most valued firm) has raised over $20.6 billion in the past four months from 13 investors by selling about 33% stake in the firm.
More to follow…
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