Indian conglomerate Reliance Industries said on Sunday equity firm General Atlantic will buy 1.34per cent of its digital unit for 65.98 billion ...
NEW DELHI: India's Reliance Industries on Sunday announced U.S. fund General Atlantic will invest 65.98 billion rupees in Jio Platforms, a fourth deal that takes investment in its digital unit to over US$8 billion in less than a month.
Reliance, controlled by billionaire Mukesh Ambani, last month forged a US$5.7 billion deal with Facebook for a 9.99per cent stake in Jio Platforms.The deals, along with Reliance's plan to sell US$7 billion in new shares, will help the Mumbai-based oil-to-telecoms giant meet its target of eliminating US$21.4 billion in net debt this year.
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Reliance says General Atlantic to invest US$870 million in digital unitIndian conglomerate Reliance Industries said on Sunday equity firm General Atlantic will buy 1.34per cent of its digital unit for 65.98 billion ...
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