Facebook eyes multibillion-dollar stake in Reliance Jio: FT Report

Anjli Raval, Tim Bradshaw and Benjamin Parkin reporting for the Financial Times:

Facebook is in talks to buy a multibillion-dollar stake in Mukesh Ambani’s digital operation Reliance Jio to expand its presence in the Indian digital market, according to two people with knowledge of the discussions.

The Silicon Valley technology giant was close to signing a preliminary deal for a 10 per cent share, one person said, but negotiations stalled because of the global travel bans that have been implemented since the coronavirus outbreak.

That’s one way of getting into the country that struck down Free Basics.

March 24, 2020 ✚ Permalink

Bharti Airtel files FIR against former employee for stealing confidential data to aid Reliance Jio

Romit Guha, reporting for ETtech:

“(Yasir Majid) after having been relieved from the services of the company (Airtel), took up employment with M/s Reliance Jio Infocomm Ltd…It thus became evident that the said Mr Yasir Majid downloaded, copied and extracted the aforementioned confidential financial data/information of the company for his own use and the use thereof by his current employer M/s Reliance Jio Infocomm Ltd., who is a business competitor of the company,” said the first information report (FIR) filed by the police, a copy of which was viewed by ET.

and…

Data that were unauthorisedly transferred included details of locations of Airtel’s base stations used to transmit airwaves and plans for future installations of such equipment, “highly confidential” financial information about the company’s BTS wise activation gross revenue details for the Jammu & Kashmir service area and a power point presentation used at the zonal business manager’s meeting on February 15.

June 25, 2015 ✚ Permalink