Facebook in Talks to Acquire 10% Stake in Reliance Jio: Report

Facebook in Talks to Acquire 10% Stake in Reliance Jio: Report
Facebook is reportedly in talks purchase a 10 % stake in India’s largest cellular telecom operator, Reliance Jio. With Jio just lately being valued at $60 billion by New York-based market perception agency, Bernstein, the dimensions of the deal can be in “multi-billion dollars”. That’s in accordance with sources quoted by Financial Times, which claimed that the 2 corporations are very near an settlement and a deal was anticipated to be introduced by the top of this month, however talks are at the moment suspended due to the coronavirus disaster.

The report additional claims that Reliance has additionally been speaking to Google individually, though, it’s not solely clear if these discussions are a couple of stake sale or if the 2 corporations need to work collectively ultimately or one other. The service already makes use of Microsoft’s Azure cloud-computing platform to supply a few of its companies in India, so it is going to be attention-grabbing to see whether it is trying to hedge its bets by signing up a second cloud service supplier in Google.

While neither Jio nor Facebook has made an official touch upon the report, such a deal will certainly elevate the hackles of safety specialists and digital privateness activists within the nation, given all of the scandals the social media firm has gone via through the years.

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