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Reliance Jio Sells 1.85% Stake To Abu Dhabi Firm
By: Tupaki Desk | 5 Jun 2020 1:40 PM GMT
Well known innovating and investing firm Mubadala based out of Abu Dhabi has decided to invest $1.2 billion in Reliance Jio Platforms of Mukesh Ambani. This investment will translate to 1.85% of stake in the firm.
Since April six investors came forward to invest in the Jio Platforms. Earlier Facebook and Silver Lake also made a huge investment in India's biggest telecom operator.
To date, the Reliance Jio Platforms managed to raise $11.5 billion which sold 19% of its stake to various firms.
Chairman and Managing Director of Reliance Industries Mukesh Ambani confirmed the deal with Mudabala firm and expressed his willingness to work with the global company.
Since April six investors came forward to invest in the Jio Platforms. Earlier Facebook and Silver Lake also made a huge investment in India's biggest telecom operator.
To date, the Reliance Jio Platforms managed to raise $11.5 billion which sold 19% of its stake to various firms.
Chairman and Managing Director of Reliance Industries Mukesh Ambani confirmed the deal with Mudabala firm and expressed his willingness to work with the global company.
