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Abu Dhabi State Fund In Talks To Invest $1 Billion In Jio Platforms

"Clearly, Jio's platform is attracting a wide range of world-class investors, given its enormous potential to serve one of the world's largest marketplaces," Mubadala Investment Company said.

May 28, 2020 / 05:00 PM IST
 
 
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Abu Dhabi state fund Mubadala Investment Company is in talks to invest about $1 billion in Reliance Industries' digital unit Jio platforms, three sources said on May 27.

Jio Platforms, which houses music and movie apps as well a Reliance's telecoms venture Jio Infocomm, has secured a massive $10 billion from investors, including Facebook Inc, within a month.

Also Read: Here's why Facebook, Silver Lake, Vista, General Atlantic and KKR invested in Jio

Reliance did not immediately respond to a request for comment.

Also Read: General Atlantic-Jio deal: Great opportunity to go vocal about local

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Also Read: Facebook buys 9.9% stake in Reliance Jio for Rs 43,574 crore in largest tech FDI

Also Read: 5 key points to know about Jio Platforms-Vista Equity Partners deal

"Clearly, Jio's platform is attracting a wide range of world-class investors, given its enormous potential to serve one of the world's largest marketplaces," Mubadala said in an email to Reuters.

(Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd)
Reuters
first published: May 28, 2020 05:00 pm

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