June 18 - 14:06
Saudi Arabia fund to sink $1.5bn into Jio Platforms
Saudi Arabia's Public Investment Fund is to invest $1.5 billion into Jio Platforms in exchange for 2.32% stake in the Indian telecom operator. It is the latest in a string of investments into the telco, which boasts around 388 million subscribers. Over the last two months 10 companies, including Facebook, have invested $15.2 billion in Jio Platforms, accounting for 24.7% of the business.
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