Facebook Might Buy Multi-Billion Dollar Stake in Reliance Jio

Reliance Jio has been the only company which directly competes with US companies in the Indian market. Currently, the subsidiary of Reliance Industries, Reliance Jio has gained attraction from Facebook. The American giant is planning to buy a multi-billion dollar stake in Reliance Jio. As per a report by Financial Times, Facebook is planning to acquire a 10% stake in Reliance Jio. Currently, Reliance Jio is approximately valued at 60 Billion Dollars and has over 370 million subscribers which makes it the top telecom operator in the country. Even revenue-wise, Reliance Jio is the leading telecom operator in India right now.

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Reliance Jio Will Open Multiple Opportunities for Facebook in India

Reliance Jio is one of the most lovable and demanding digital platform in the country. A stake in Reliance Jio will open up multiple windows for Facebook. As per analysts, it is expected that a partnership with Reliance Jio will help Facebook to set up UPI payments schemes in WhatsApp along with resolved encryption issues with the government. However, no official statements have been released by the companies regarding the matter.

It is also expected that Google might also close a deal with Reliance Jio soon. As per the reports, Facebook almost finalised the 10% stake in Reliance Jio, but the negotiations were postponed and cancelled due to spread of the deadly virus Covid-19. The government has already locked down the entire nation for 21 days and no trade deals can be made in a lockdown situation. Since the Indian government is also strict in the overseas business operations, Facebook will get access to the Indian Market by buying stakes in Reliance Jio, which is currently growing at a rapid scale.