New Delhi: The Competition Commission of India (CCI) has approved the acquisition of 9.99 per cent stake in Jio Platforms by Facebook’s Jadhu Holding LLC. The deal between Facebook and Jio took place for Rs 43,574 crore, although Jio did not provide any information about Jadhu Holding LLC while announcing the investment in April.
Jadhu Holding LLC is a company owned by Facebook. This company has not invested in any company of any country before India. In just two months, under various agreements, Rs 1,15,693.95 crore has been invested in Jio platforms. Jio has sold a total of 24.70 per cent stake to these global companies.
It is worth noting that last week, Saudi Arabia Public Investment Fund (PIF) has announced an investment of Rs 11,367 crore in Jio Platforms for a 2.32 per cent stake.
