Facebook invests $5.7bn in Indian telecom giant Jio Platforms
Mobile operator boasts a huge user base and a chairman with close ties to Modi
Facebook says its investment in Jio underscores its "commitment" to India.
PALO ALTO, U.S./TOKYO -- Facebook has invested $5.7 billion to take a 9.99% stake in Jio Platforms, the telecom operator owned by Indian conglomerate Reliance Industries.
The deal makes the U.S. social media giant the largest minority shareholder in telecom provider Jio, which is less than 4 years old but already has more than 388 million users, Facebook said.
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