According to reports, Facebook and Google might acquire stakes in Reliance Jio.
In what will be a multi-billion dollar deal, Facebook might go ahead and acquire a 10% stake in Reliance Jio. While further discussions on the matter have been put on hold owing the Corona Virus pandemic, this acquisition if it comes through will be instrumental in strengthening Facebook’s hold on the Indian market.
A Financial Times report, which announced the possible acquisition, also noted that similar conversations are also going on between Google and Reliance Jio.