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Facebook takes $5.7 billion stake in India’s largest mobile telecom

Facebook takes $5.7 billion stake in India’s largest mobile telecom

Facebook has announced a $5.7 billion investment in Indian conglomerate Reliance Industries’ telecom unit on Wednesday. Facebook said it would focus on collaborating its messaging platform WhatsApp with Reliance’s e-commerce venture JioMart to enable people to connect with small businesses. Facebook’s investment will translate to a 9.99% equity stake in Jio Platforms.

Skeptic
Skeptic
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