Facebook is Eyeing a Multibillion-Dollar Stake in Reliance Jio: FT Report

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.