

Separately, Jio officials said the only approval needed for the deal was from the Competition Commission of India.Ī government official said the deal could be closely scrutinised by the anti-trust watchdog given both companies have the private data of millions of Indians, which may give the combine undue advantage against rivals - be it other tech giants such as Google and Amazon or local startups. The transaction is subject to regulatory and other customary approvals, RIL said. “This investment by Facebook values Jio Platforms at Rs 4.62 lakh crore pre-money enterprise value ($65.95 billion, assuming a conversion rate of Rs 70 to a US dollar).” today announced the signing of binding agreements for an investment of Rs 43,574 crore by Facebook into Jio Platforms,” RIL said. “Reliance Industries Limited, Jio Platforms Limited and Facebook, Inc.


“The companies will work closely to ensure that consumers are able to access the nearest kiranas who can provide products and services to their homes by transacting seamlessly with JioMart using WhatsApp,” RIL said in a statement.īoth companies added that they will work together on some major projects that will open up commerce opportunities for people across India, but didn’t elaborate further.
