Facebook buys 9.99 percent stake in Reliance Jio Platforms for Rs. 43,574 Crore

Social networking site Facebook on Wednesday announced that it has bought a 9.99 percent stake in Mukesh Ambani’s digital operation Reliance Jio, for Rs 43,574 crore, in a deal that puts the pre-money enterprise value of Jio Platforms at Rs 4.62 lakh crore. In an official statement, the company said: "Today, we are announcing a USD 5.7 billion, or Rs 43,574 crore, investment in Jio Platforms Limited, part of Reliance Industries Limited, making Facebook its largest minority shareholder."

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