Facebook seeks 10% stake in Reliance Jio, talks underway

Media reports suggest that the deal could be worth several billion dollars

e4m by exchange4media Staff
Updated: Mar 25, 2020 3:04 PM
FB jio

Social media giant Facebook has reportedly sought a 10 per cent stake in Reliance Jio. Reports suggest that the deal could be worth ‘multi-billion’ dollars.

Media outlets reported that the two parties were close to inking the deal, which got delayed due to the global travel bans arising from the coronavirus crisis.

It is speculated that Facebook’s interest in Mukesh Ambani-owned Jio has been piqued after its own free internet initiative ‘Free Basics’ failed to take off in India.

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