Is Facebook going to buy a stake in Reliance Jio? Know here

According to several reports, Facebook is planning to buy stakes in Reliance Jio. This multi-billion dollar deal is postponed due to recent global restrictions over travel because of Coronavirus pandemic. reports furr reveal that Reliance Jio Teleco is also in talks with Google.

Facebook in talks to buy 10 per cent stakes in Indian telecom Reliance Jio

Reportedly, Facebook and Jio have been in talks about this deal for a long time w. global expanse of COVID-19 has currently stopped deal to move furr. According to a leing ecomic news portal, in October 2019, Reliance Jio's enterprise value was estimated to be around $60-65 billion. 

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In 2019, Mukesh Ambani, Chairman, RIL h told shareholders that company, Reliance Jio is been approached by potential strategic partners. He mentioned that y will "induct right partners in our platform company". From grand launch of Reliance Jio in 2015 and public operations starting from 2016, company has become amongst biggest Teleco organisation in Indian market. According to data published by Telecom Regulatory Authority of India (TRAI), subscriber numbers have crossed base of around 370 million in three years.

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As per reports, in December 2019, Jio, under Reliance Industries, h a market share of 32.1 per cent and a revenue market share of 35.4 per cent. Facebook to buy a stake in Jio could be a major move for social media supergiant to tackle its top competitions in India such as ByteDance’s TikTok, Snapchat, Hike and more. TikTok's parent company is reportedly said to have recently invested in several local startups including e-commerce platform Meesho and online learning start-up Unacemy. With growing competition for both Facebook.com and Reliance Jio, this deal of 10 per cent stake in Jio may bring forth new developments. 

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