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9.99% stake in Reliance Jio bought by Facebook for $5.7 billion

9.99% stake in Reliance Jio bought by Facebook for $5.7 billion

Facebook announced on Wednesday that it is buys 99.9% stake in Reliance Industries Ltd telecom unit for $5.7 billion becoming the minority shareholder in Jio platforms limited.

It also said that will be pushing the collaborative messaging platform whatsapp along with the greatest wireless platform of Reliance i.e Jio which will in return help the small business to connect and bloom.

Due to such an investment it will make Facebook the largest minority share holder in Jio platforms ltd.

Jio in three years have bloomed in such a way that it has become the largest wireless operator.

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