Reliance Jio Sells 1.85% Stake To Abu Dhabi Firm

Fri Jun 05 2020 19:10:33 GMT+0530 (IST)

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.