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Industry leaders applaud Facebook-Jio deal; say India to be growth epicentre post-COVID crisis
Business

Industry leaders applaud Facebook-Jio deal; say India to be growth epicentre post-COVID crisis

Facebook's Rs 43,574 crore-investment in Jio Platforms earned accolades from industry leaders on Wednesday, even as some internet activists raised privacy concerns

Reliance Jio-Facebook deal: Mark Zuckerberg shares 'excitement' over $5.7 bn partnership, says committed to connecting more people with Jio
Business

Reliance Jio-Facebook deal: Mark Zuckerberg shares 'excitement' over $5.7 bn partnership, says committed to connecting more people with Jio

The multibillion-dollar deal gives the Facebook a firm foothold in a fast-growing massive market and helps the Reliance Jio, the Indian oil-to-telecom conglomerate to significantly cut debt.

Facebook buys 9.9% stake in Reliance Jio: What does Mark Zuckerberg-led social media giant gain from it?
Business

Facebook buys 9.9% stake in Reliance Jio: What does Mark Zuckerberg-led social media giant gain from it?

Facebook has bought a 9.9 percent stake in Reliance Jio for $5.7 billion (Rs 43,574 crore), the telecom unit of Reliance Industries Ltd (RIL

Construct of FB-Jio deal does not mean that two sides will not compete in the market: Facebook
Business

Construct of FB-Jio deal does not mean that two sides will not compete in the market: Facebook

Facebook and Jio will look to drive synergies and areas of collaboration but the mega-deal does not mean that the two sides will not compete in the market, officials said on Wednesday

Jio emerges as a leapfrogging platform in Ambani's industrial shuffle, aided by trademark financial engineering
Business

Jio emerges as a leapfrogging platform in Ambani's industrial shuffle, aided by trademark financial engineering

Reliance Jio plans to offer new Bollywood releases into broadband-linked living rooms across India. Where will that leave multiplex operators?

Facebook investment to accelerate Reliance Jio's digital monetisation drive: Analysts
Business

Facebook investment to accelerate Reliance Jio's digital monetisation drive: Analysts

Facebook's move to pick up about 10 percent stake in Jio Platforms will accelerate Jio's digital monetisation drive and put Reliance Industries (RIL) on course to turn net debt-free by March 2021, analysts said on Wednesday

Jio-Facebook deal looks at local level e-commerce; to cover education, health gradually: Mukesh Ambani
Business

Jio-Facebook deal looks at local level e-commerce; to cover education, health gradually: Mukesh Ambani

Reliance Jio and Facebook will look to use WhatsApp for delivering goods from local neighborhood Kirana stores to consumers before expanding collaboration in education and healthcare sector, billionaire Mukesh Ambani said soon after announcing the mega Rs 43,574 -crore deal

RIL shares zoom over 10% on Rs 43,574-cr Jio-Facebook deal; market cap rallies Rs 80,710 cr
Business

RIL shares zoom over 10% on Rs 43,574-cr Jio-Facebook deal; market cap rallies Rs 80,710 cr

Shares of Reliance Industries on Wednesday jumped over 10 percent after Facebook announced an investment of $5.7 billion (Rs 43,574 crore) to buy a 10 percent stake in Jio Platforms

Facebook invests Rs 43,574 cr in Reliance Jio for 9.99% stake; becomes largest minority shareholder
Business

Facebook invests Rs 43,574 cr in Reliance Jio for 9.99% stake; becomes largest minority shareholder

The investment values Jio Platforms amongst the top 5 listed companies in India by market capitalization, within just three and a half years of launch of commercial services