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Facebook eyes multi billion dollar stake in Reliance Jio: Report

The Financial Times reported on Tuesday, citing two people with knowledge of the matter.

By: Reuters | Bengaluru | Published: March 25, 2020 9:46:30 am
(Representational Image)

Facebook Inc is in talks to buy a multi billion dollar stake in Reliance Industries Ltd’s (RELI.NS) telecom unit, the Financial Times reported on Tuesday, citing two people with knowledge of the matter.

The report said the social media giant was in talks for a 10% stake in Jio, controlled by India’s wealthiest man Mukesh Ambani, but the talks were halted due to global travel bans amid the coronavirus outbreak.

Facebook declined to comment.

 

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