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Nikita Sharma
Business News Expert
Asked a question 10 months ago

Facebook recently invested in which Indian telecom company?

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The world’s largest social media company Facebook  announced that it has invested $5.7 billion for a 9.99% stake in India’s Reliance Jio Platforms, a three-and-a-half-year-old subsidiary of the nation’s most valued firm, Reliance Industries, and the biggest telecom operator in the country with more than 370 million subscribers.

The social giant said the investment marks its “commitment to India”, where it will focus on collaborating with Jio to create “new ways for people and businesses to operate more effectively in the growing digital economy.” This is the largest investment for a minority stake by a technology company anywhere in the world and the largest foreign direct investment in the technology space in India.

Yash Joshi
Human Resource (HR) and Corporate Admin Expert

Jio