Social media giant Facebook investing Facebook investing $5.7 billion, or INR 43,574 crore and takes 10 per cent share in Jio Platforms Limited. The investment gives Facebook 9.99 percent share in Jio. This investment will help reduce the burden of debt for Jio and enable Facebook to take the first step in telecommunications in India.
Mukesh Ambani, Chairman and Managing Director, Reliance Industries, reacted on the partnership with Facebook. Reliance are humbled by the opportunity to welcome Facebook as our long-term partner In developing and transforming India's digital ecosystem for the benefit of all Indians.
Reliance Industries Limited is up +126.25 (+10.20%) at 1,363.60. RIL stock gap up open at 1320 and reached maximum 1,384.90. finally closed end of the day 1363.60.
Facebook said in its statement
This investment underscores our commitment to India, and our excitement for the dramatic transformation that Jio has spurred in the country. In less than four years, Jio has brought more than 388 million people online, fueling the creation of innovative new enterprises and connecting people in new ways. We are committed to connecting more people in India together with Jio.
We are excited about furthering our investment in India’s vibrant digital economy. Our efforts with Jio will be focused on opening new doors and fueling India’s economic growth and the prosperity of its people. We look forward to working with Jio, and to future collaborations in India to advance this vision.
Further facebook said, its aim is enable new opportunities for businesses of all sizes, especially for the small businesses across India.
Mukesh Ambani, Chairman and Managing Director, Reliance Industries, reacted on the partnership with Facebook. Reliance are humbled by the opportunity to welcome Facebook as our long-term partner In developing and transforming India's digital ecosystem for the benefit of all Indians.
Reliance Industries Limited is up +126.25 (+10.20%) at 1,363.60. RIL stock gap up open at 1320 and reached maximum 1,384.90. finally closed end of the day 1363.60.
Market Update| #Nifty50 gained 205.85 points to close at 9,187.30. #BSE #Sensex closed at 31,379.55 with a 742.84 point high. Facebook investing $5.7 billion or INR 43,574 crore in Jio Platforms Limited, #RIL share up 125.95 points. #Facebook #MarketUpdate #Jio #EquityResearch pic.twitter.com/iB5WcY1kaL
— Capital Report (@reportcapital) April 22, 2020
Facebook said in its statement
This investment underscores our commitment to India, and our excitement for the dramatic transformation that Jio has spurred in the country. In less than four years, Jio has brought more than 388 million people online, fueling the creation of innovative new enterprises and connecting people in new ways. We are committed to connecting more people in India together with Jio.
We are excited about furthering our investment in India’s vibrant digital economy. Our efforts with Jio will be focused on opening new doors and fueling India’s economic growth and the prosperity of its people. We look forward to working with Jio, and to future collaborations in India to advance this vision.
Further facebook said, its aim is enable new opportunities for businesses of all sizes, especially for the small businesses across India.
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