Facebook Inc announced a $5.7 billion investment in Reliance Industries Ltd’s telecom unit on Wednesday, making it the largest minority shareholder in Jio Platforms Limited. The social media giant said it would focus on collaborating its messaging platform WhatsApp with Reliance’s e-commerce venture JioMart to enable people to connect with small businesses.
Reliance Jio | lyricsfreak.eu
Social media giant Facebook is in talks to buy a 10% stake in Reliance Jio, billionaire Mukesh Ambani’s telecom and internet services venture. The US-based technology giant, which also owns Instagram and WhatsApp, was close to signing a preliminary deal but the negotiations got delayed due global travel bans due to Covid-19.