The social media platform & US tech titan Facebook has acquired a 9.99% stake Reliance Jio i.e. the telecom arm of Reliance Industries Ltd (RIL). Facebook has bought the 9.99% stakes for USD 5.7 billion (about Rs 43,574 crore). This deal of USD 5.7 billion has put the pre-money enterprise value of Jio Platforms at Rs 4.62 lakh crore. Jio Platform is the parent of phone and data unit Reliance Jio Infocomm including various other digital app platforms like JioMart, Jio-Saavn and JioCinema.
Click Here To Get Test Series For SBI PO 2020
Buying stakes in Reliance Jio will give Facebook a strong foothold in the Indian market, where its WhatsApp chat service is having 40 crore users.
Important takeaways for all competitive exams:
The Home Rule Movement in India (1916-1918) is another notable stage in the process of…
According to the Reserve Bank of India’s 101st Survey of Professional Forecasters (SPF), there has…
The Government of Karnataka has filed its case with the Supreme Court challenging the High…
Noted oceanographer and scientist Dr Srinivasa Kumar Tummala has taken charge as the Secretary of…
The Jallianwala Bagh Massacre of 1919 is one of the most infamous events that happened…
Union Agriculture and Farmers’ Welfare Minister Shivraj Singh Chouhan has launched a new scholarship and…