March 24 - 16:03
102D
Facebook targets stake in Reliance Jio
Facebook has held talks with Indian telco Reliance Jio about acquiring a 10% stake, reports the Financial Times. A subsidiary of Reliance Systems, India's biggest company, Reliance Jio has amassed 360 million subscribers in India. By taking a multi-billion stake, Facebook would be able to connect with Reliance Jio's users. Negotiations have taken a backseat due to coronavirus outbreak.
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