Fri. Mar 29th, 2024
Reliance Jio

Abu Dhabi state fund Mubadala Investment Company is in talks to invest about $1 billion in Reliance Industries digital unit Jio platforms, three sources said on May 27.

Only recently, Jio Platforms, which houses music and movie apps as well a Reliance’s telecoms venture Jio Infocomm, has secured a massive $10 billion from investors, including Facebook Inc, within a month.

Reliance did not immediately respond to a request for comment.

“Clearly Jio’s platform is attracting a wide range of world-class investors, given its enormous potential to serve one of the world’s largest marketplaces,” Mubadala said in an email to Reuters.

According to sources, Mukesh Ambani outlined his plan to shareholders in July, saying the effort will involve the group’s unlisted businesses Reliance Retail Ltd. and Reliance Jio Infocomm Ltd.

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