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Reliance Jio Sells 1.85% Stake To Abu Dhabi Firm

By:  Tupaki Desk   |   5 Jun 2020 1:40 PM GMT
Reliance Jio Sells 1.85% Stake To Abu Dhabi Firm
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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.