Reliance Jio, a three and half-year-old subsidiary of India's most valued firm Reliance industries, may have attracted the attention of the American giant: Facebook.
It was recently revealed that Facebook was in discussion with Reliance Jio to buy 10% stake in the firm.
As per the report, the 10% stake by Facebook was going to be valued to billions of dollars. Analyst had revealed that Jio's valuation stood between $65-70 billion. So if Facebook acquires 10% stake in Reliance Jio, it would amount up to a range between $6-7 billion.
Now although the deal between the two firms have currently come to a halt, it would create a bunch of Opportunities for Facebook to enter into the Indian Market
Both Facebook and Reliance Jio have declined to comment on the matter.
Apart from this Facebook recently announced that it's going to donate $20 million to fight the coronavirus pandemic.
For further updates stay tuned to CERadar.
For further updates stay tuned to CERadar.
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