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CCI approves Facebook’s 9.99 per cent stake buy in Jio Platform

The acquisition was to be done through Jaadhu Holdings LLC. In a tweet, the CCI said it has approved "acquisition of 9.99 per cent stake in Jio Platforms by Jaadhu Holdings LLC".

By: PTI | New Delhi | Published: June 25, 2020 12:24:59 am
Facebook Jio investment, Reliance Jio, Facebook takes stake in Jio, Mrak zuckerberg, Mukesh Ambani, Business news, Indian express In April, Facebook announced an investment of USD 5.7 billion (Rs 43,574 crore) in Jio Platforms. (Representational Image)

The Competition Commission of India (CCI) on Wednesday said it has approved Facebook’s proposed acquisition of 9.99 per cent stake in Jio Platforms.

In April, Facebook announced an investment of USD 5.7 billion (Rs 43,574 crore) in Jio Platforms.

The acquisition was to be done through Jaadhu Holdings LLC. In a tweet, the CCI said it has approved “acquisition of 9.99 per cent stake in Jio Platforms by Jaadhu Holdings LLC”.

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