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Become A Startup Insider With Inc42 Plus
Join our exclusive community of business leaders &makers for in-depth tech stories and intelligence on India’s tech economy you won’t find elsewhere.
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Global tech giant Facebook has become the biggest minority stakeholder in Reliance Jio with an investment of $5.7 Bn. The social media giant has acquired a 9.99% stake in Reliance Jio at a pre-money valuation of $65.95 Bn after months of speculation about the investment.
A day after industry experts and government officials raised the red flag over the fallout of the Reliance Jio-Facebook deal on competitors and data sharing, Reliance Industries Limited (RIL) strategy head Anshuman Thakur assuaged any such fears.
Clearing the air, Ajit Mohan, vice president and MD, Facebook India highlighted that data sharing wasn’t part of the deal struck between the two companies.
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