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 / 05:35 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.
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Reliance did not immediately respond to a request for comment.
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"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)