Google is in early talks to acquire a share in RIL’s digital arm Jio Platforms Ltd. Google is in early talks according to users who are related with the subject.
The US technology firm was considering around $4 billion in spending, people stated, requesting not to be named because the knowledge is private. According to the sources, a statement may arrive in as early as the next few days.The specifics of the proposed agreement can change, and talks could also be delayed or ended, the people said. Google and Reliance members did not respond instantly to comments queries.
The arm of Qualcomm Inc., which includes Silver Lake Partnern and Mubadala Investment Co, is the newest in Jio ‘s growing list of top-notch shareholders. Mukesh Ambani’s RIL said it obtained Rs 730 crore from wireless technology pioneer Qualcomm by selling a minor stake in its development business, contributing to a slew of investments post April that have crossed Rs 1.18 lakh Crore.
Google is planning to join Facebook Inc. and a host of private equity companies that have joined the technological enterprise of multimillionaire Mukesh Ambani that has already attracted over $15 billion in investments within just a couple of months.
Google aims to invest $10 billion in the next five to seven years helping drive new technology adoption in India. Sundar Pichai, who was raised in the world and is now the Chief Executive Officer of parent Alphabet Inc., said the coronavirus epidemic has made evident the value of tech to operate and to communicate with family and friends.
