Google to invest $4.5 billion in Reliance Jio
At Reliance AGM today, the company announced a new partnership with Google. The tech giant is buying a 7.73% stake in Reliance Industries’ telecom and digital unit Jio Platforms. It will be investing $4.5 billion as part of its recently announced $10 billion India digitization fund.
Now, RIL’s telecom and the digital unit has got investments worth about Rs 1.18 lakh crore ($15.7 billion) in just over two months. It totals for a total stake of about 25.24%. Recently, Qualcomm announced its plans to invest in Jio. Further, tech companies like Intel and Facebook have also invested in the company.
The company became debt-free after getting 11 back-to-back investments in Jio Platforms. RIL has been making efforts to position Jio Platforms and its telecom venture Reliance Jio Infocomm as more digital, consumer technology companies.
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