Facebook released press release, as per the notice that Facebook took an investment deal of Rs 43,574 crore for acquiring a minority stake in Relince Jio Ltd. As it looks to expand presence in its largest market in terms of subscriber ratio.
Facebook JIO Deal Worth Rs. 43,574 Crores
Facebook released press note that, it would focus on partnership its instant messaging app Whats App with Reliance’s E-commerce platform JioMart to make people to connect with small enterprises. As per the Jio, Facebook’s investment will translate to a 9.99% equity stake in Jio Telecom on a fully diluted basis.
After this big deal, will give the Facebook a social media giant a stronghold in the massive Indian economy and also help the Indian telecom conglomerate to some relief debt significantly.
— Reliance Jio (@reliancejio) April 22, 2020
Reliance Jio com, is the fast-growing telecom giant controlled by Mr. Mukesh Ambani, Jio Telecom began its operations in 2016. It provides telecom solution in services under brand name Jio.
It has strong connectivity platform (JIO) to more than 38.8 crore subscribers across India. Jio is the top and popular telecom brand in India. Now the rumors also being circulated in the market, Jio Telecom is also planning to launch it’s 5G service in India.
Reliance Industries Shares hiked after Deal Signed
After the deal Share price of Reliance Industries hiked up to 103 points or 8.33% to Rs 1339. Previously it close of Rs 1,236. On the other hand, Sensex was trading 131 points higher at 30,758.
On Nifty too, Reliance Industries share price was the top gainer. After the deal sanctioned officially. The index heavyweight gained over 8% to Rs 1,339 on NSE.
After this big deal will give the Facebook Company a big space in the strongly growing Indian economy and also help to telecom sector to relief in its debt significantly.
Is this is the positive new for Indian Telecom Industry
As this new is positive for Indian economy and Reliance Group. The more news also circulated that many other companies are now evacuate its manufacturing units from china, due to Corona Virus.
Meanwhile, various other companies worldwide planning to move from China to India. Due to which, Indian Economy will get booster and reform economy again and will cover the loss GDP Growth due Corona Virus epidemic.
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