RATE Group | Fb Buys Stake in Reliance Jio — How the Deal Impacts Cryptocurrency in India
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Fb Buys Stake in Reliance Jio — How the Deal Impacts Cryptocurrency in India

23 Apr Fb Buys Stake in Reliance Jio — How the Deal Impacts Cryptocurrency in India

Posted at 04:12h in Cryptocurrency News by

Facebook Buys Stake in Reliance Jio — How the Deal Affects Cryptocurrency in India

Fb is shopping for a stake in Reliance Jio, India’s largest telecom operator. The deal has boosted Reliance Industries’ share worth and is welcomed by the Indian cryptocurrency group. In addition to Fb’s funding into Reliance Jio, Whatsapp has additionally entered right into a partnership with Jio Platforms and Reliance Retail.

Fb Invests in Reliance Jio — Largest FDI in India’s Tech Sector

Social media large Fb introduced on Wednesday that it’s shopping for a stake in Reliance Jio, the biggest non-public sector firm in India. Fb signed binding agreements to speculate “₹43,574 crore [$5.7 billion]” into Jio Platforms, which represents the biggest overseas direct funding (FDI) in India’s know-how sector. Reliance Jio independently introduced on Wednesday:

This funding by Fb values Jio Platforms at ₹4.62 lakh crore pre-money enterprise worth … Fb’s funding will translate right into a 9.99% fairness stake in Jio Platforms.

Reliance Jio’s valuation is roughly…

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