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Reliance Jio-Silver Lake deal | Expect RIL to make further investments in consumer technology: Fitch

Private equity firm Silver Lake Partners has bought 1 percent of Jio Platforms for $750 million, RIL said on May 4.

May 04, 2020 / 03:59 PM IST

Private equity firm Silver Lake Partners has bought 1 percent of Jio Platforms for Rs 5,655.75 crore ($750 million), Reliance Industries (RIL) said on May 4.

Rating agency Fitch has said it expects RIL to make further investments in consumer technology, following the deal with Silver Lake Partners.

Fitch has also said the deals with Facebook and Silver Lake will help strengthen RIL's balance sheet.

In April, Facebook acquired a 9.9 percent stake in Jio Platforms for $5.7 billion.