Reliance Jio-Facebook deal | Anand Mahindra lauds Mukesh Ambani's business acumen

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Mahindra Group Chairman Anand Mahindra has hailed Reliance Industries Chairman Mukesh Ambani's business acumen after Facebook picked up a 9.9 percent stake in Jio for Rs 43,574 crore.

Anand Mahindra, who is quite active on the micro-blogging site Twitter, took to his official handle to congratulate Ambani on his latest business move. He said that the deal between Reliance Jio and Facebook "is good not just for the two of them".

Jio’s deal with Facebook is good not just for the two of them. Coming as it does during the virus-crisis, it is a strong signal of India’s economic importance post the crisis. It strengthens hypotheses that the world will pivot to India as a new growth epicentre. Bravo Mukesh! https://t.co/5rIi6WOjWf

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— anand mahindra (@anandmahindra) April 22, 2020

"Jio's deal with Facebook is good not just for the two of them. Coming as it does during the virus-crisis, it is a strong signal of India’s economic importance post the crisis. It strengthens hypotheses that the world will pivot to India as a new growth epicentre. Bravo Mukesh!" tweeted Mahindra.

Also Read | Facebook can now take on TikTok, thanks to Jio

With this deal, the Mark Zuckerberg- led social media giant gets a firm foothold in a fast-growing massive market and helps the Indian oil-to-telecom conglomerate to significantly cut debt.

The deal now values Jio at Rs 4.62 lakh crore ($65.95 billion).

Follow our coverage of the Facebook-Jio deal here

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust, which controls Network18 Media & Investments Ltd