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
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
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)