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Facebook mulls acquisition of Reliance Jio stake report

2020-03-27 13:18:00| Telecompaper Headlines

(Telecompaper) Facebook seeks to acquire a multibillion-dollar stake in Reliance Jio. The Indian operator's mobile internet service has attracted nearly 370 million Indian customers in just three years, The Financial Times reports, citing two unnamed sources with knowledge of the discussions. According to one of these sources, Facebook nearly signed a preliminary deal for a 10 percent share in Jio, but the deal timetable was negatively impacted by the global lockdowns caused by the coronavirus outbreak.

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