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Tag: jio
Google buys stake in Jio for USD 4.5 bln, to partner on affordable smartphone
2020-07-15 13:17:00| Telecompaper Headlines
(Telecompaper) Google is the latest company to invest in Jio Platforms, the Indian company owned by Reliance Industries which owns the mobile and fibre operator Jio. Google will pay USD 4.5 billion (INR 337.37 billion) for a 7.73 percent stake in Jio Platforms. As part of the deal, the companies will work together on an entry-level smartphone based on Google's Android system to help more Indians get online.
Jio Platforms sells 1.16% stake to Abu Dhabi Investment Authority for EUR 667 mln
2020-06-08 09:11:00| Telecompaper Headlines
(Telecompaper) The Abu Dhabi Investment Authority (ADIA) has bought a stake in Jio Platforms of 1.16 percent, for INR 56.83 billion, or over EUR 667 million. The latest investment brings Jio Platforms' enterprise value to INR 5.16 trillion, the company said.
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General Atlantic purchases almost $1 billion equity in Jio Platforms
2020-05-18 02:00:00| Total Telecom industry news
Yesterday saw the announcement of yet another investment deal in Jio Platforms, this time from investment firm General Atlantic to the tune of around $870 million. The deal will give the American fund 1.34% equity in the Indian digital platform, General Atlantic’s largest foray into the Asian market to date…read more on TotalTele.com »
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Reliance Jio nearly triples quarterly net profit, sales up 27%
2020-05-01 08:55:00| Telecompaper Headlines
(Telecompaper) Indian operator Reliance Jio Infocomm reported a near tripling in its net profit for the fiscal fourth quarter to March, to INR 23.3 billion from INR 8.4 billion a year earlier. The customer base rose by 26.3 percent year-on-year to 387.5 million, and Jio added a net 17.5 million new customers in Q4 alone.
Facebook to acquire stake in India's Jio Platforms for USD 5.7 bln
2020-04-22 08:57:00| Telecompaper Headlines
(Telecompaper) Facebook has agreed to invest INR 435.7 billion (approximately USD 5.7 billion) into India's Jio Platforms, the holding company of mobile operator Reliance Jio Infocomm. This investment gives Jio Platforms an enterprise value of INR 4.6 trillion (approximately USD 66 billion). Facebook's investment will translate into a 9.99 percent equity stake in Jio Platforms on a fully diluted basis.
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