GOOGLE TO BUY 7.7% STAKE IN JIO PLATFORM

By : Samarjeet Singh  |  Updated On : 30 Nov, -0001

GOOGLE TO BUY 7.7% STAKE IN JIO PLATFORM

Mukesh Ambani, chairman of Reliance Industry made a big announcement at 43rd AGM (RIL 43rd AGM 2020), saying that Google will buy a 7.7% stake in Jio platforms for Rs 33737 crore.

 This is the 14th investment by foreign companies in Reliance Jio in three months. Prior to this, Facebook, Silver Lake Partners, vista, General Atlantic, KKR, Mubadala, Silver Lake, ADIA, TPG, L Catterton, PIF, Intel and Qualcomm's Snapdragon have invested in Jio.

Jio Platforms have raised Rs 117,588.45 crore from the stake sale. RIL has so far received investment for 25.09 per cent stake in Jio Platforms.

 Chairman Mukesh Ambani said that Jio has created a 5G solution, which will provide world-class 5G service in India. Along with this, he also told that with the availability of spectrum, its trial will start.