Facebook Buys 9.99 Per Cent Stake In Reliance J...

Facebook Buys 9.99 Per Cent Stake In Reliance Jio For $5.7 Billion

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Facebook Buys 9.99 Per Cent Stake In Reliance Jio For $5.7 Billion

Facebook on Wednesday announced an investment of USD 5.7 billion (Rs 43,574 crore) to buy a 10 per cent stake in the firm that houses billionaire Mukesh Ambani’s telecom arm Jio as the social media giant looks to expand presence in its largest market in terms of subscriber base.

Reliance in a separate statement said the investment by Facebook values Jio Platforms at Rs 4.62 lakh crore pre-money enterprise value (USD 65.95 billion, assuming a conversion rate of Rs 70 to a US dollar).

https://m.hindustantimes.com/business-news/face...

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Facebook: The Corona of virtual world. But when will people realise!

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Deal Lieutenant
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ithehappy wrote:

Facebook: The Corona of virtual world. But when will people realise!

nailed it stuck_out_tongue

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