Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / Facebook likely to acquire 10% stake in Reliance Jio
  • Business

    Facebook likely to acquire 10% stake in Reliance Jio

    Shubham Sharma
    Written by
    Shubham Sharma
    Twitter
    Last updated on Mar 26, 2020, 12:47 pm
    Facebook likely to acquire 10% stake in Reliance Jio
  • After Meesho and Unacademy, Facebook is looking to invest in Reliance Jio to make another big move in the Indian market.

    A new report from the Financial Times has revealed that the social network has been in talks with the Mukesh Ambani-led telco to take a significant 10% stake in the company.

    Here's all you need to know about it.

  • In this article
    'Multi-billion dollar' deal between Facebook and Jio Ambani hinted at the possibility of a deal in October Jio is valued at $60-65 billion Deal would let Facebook tap into Jio's subscriber base Facebook's last 'Ambani' tie-up didn't end well
  • Deal

    'Multi-billion dollar' deal between Facebook and Jio

  • According to the FT report, Facebook was close to signing a 'multi-billion dollar' deal to acquire 10% in Jio.

    The talks had been going on for a while but have now come to a halt due to the travel restrictions imposed in the light of the COVID-19 pandemic.

    Notably, apart from Facebook, Jio has also been exploring a potential investment from Google.

  • Quote

    Ambani hinted at the possibility of a deal in October

  • "Given the reach and scale of our digital ecosystem, we've received strong interest from potential strategic partners," Mukesh Ambani, Chairman, RIL had told shareholders in October 2019. "We will induct the right partners in our platform company, creating and unlocking meaningful value for RIL shareholders."

  • Valuation

    Jio is valued at $60-65 billion

    Jio is valued at $60-65 billion
  • Back in November, the valuation of Reliance Jio was estimated to be around $60-65 billion.

    Now, going by this, if Facebook chooses to buy 10% stake in the company, it could be looking at a payout of $6-6.5 billion.

    However, there is no doubt that this would give the social network an unprecedented opportunity to expand its digital footprint in India.

  • Subscriber base

    Deal would let Facebook tap into Jio's subscriber base

    Deal would let Facebook tap into Jio's subscriber base
  • Since its launch, Jio has grown to become India's third-largest telco with over 370 million subscribers.

    Beyond that, the company has also barged into the fiber internet and e-commerce category in the country.

    So, in case Facebook signs a deal to invest in Jio, it will be able to tap into a subscriber base larger than the population of the US.

  • Previous attempt

    Facebook's last 'Ambani' tie-up didn't end well

  • Back in 2013, Facebook had tried to enter the Indian market with free internet services under the 'Free Basics' plan in partnership with the telco owned by Mukesh's younger brother Anil Ambani.

    However, the deal was countered by the Indian government after people in favor of net neutrality raised major alarms.

    Since then, the company has just invested in some Indian start-ups.

  • Mukesh Ambani
  • Facebook
  • Mark Zuckerberg
  • Reliance Jio
  • Google
  •  
Latest News
  • NewsBytes Briefing: Investigation uncovers Facebook's pro ISIS move, and more
    NewsBytes Briefing: Investigation uncovers Facebook's pro ISIS move, and more
    Science
  • PUBG: New State announced for iOS, Android; Unavailable in India
    PUBG: New State announced for iOS, Android; Unavailable in India
    Science
  • Indian versions of 'Suits', 'House', 'Monk', 'SNL' are being planned
    Indian versions of 'Suits', 'House', 'Monk', 'SNL' are being planned
    Entertainment
  • Google integrates lightweight HTML5 games into Chrome browser on Android
    Google integrates lightweight HTML5 games into Chrome browser on Android
    Science
  • Sony announces next-generation PSVR headset for the PlayStation 5
    Sony announces next-generation PSVR headset for the PlayStation 5
    Science
Related Timelines
  • Reliance Retail scores Rs. 3,675cr from General Atlantic: Details here
    Reliance Retail scores Rs. 3,675cr from General Atlantic: Details here
    Business
  • Google likely to invest $4 billion in Reliance's Jio Platforms
    Google likely to invest $4 billion in Reliance's Jio Platforms
    Business
  • Mukesh Ambani becomes 6th richest person in the world
    Mukesh Ambani becomes 6th richest person in the world
    Business
  • Jio Platforms scores Rs. 1,894 crore investment from Intel
    Jio Platforms scores Rs. 1,894 crore investment from Intel
    Business
Trending Topics
Bharti Airtel Mukesh Ambani WhatsApp Reliance Jio OPPO Isha Ambani
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Indian Premier League Samsung Virat Kohli Rohit Sharma
Cricket News Narendra Modi Facebook YouTube Hollywood News WhatsApp Bollywood News ISRO Rahul Gandhi Yoga
Honda Batman Football News BMW Vaccine Reliance Jio OPPO Amazon Food News, Healthy Recipes Royal Challengers Bangalore
Toyota Fashion Tips Farmers Protest Mercedes Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Marvel Comics
Avengers Neha Kakkar Premier League Big Bang Theory
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021