Google- Jio Deal
Google will invest Rs.33,737 crore for 7.7% stakes in Indian company Reliance Jio. Mukesh Ambani has confirmed this.
Reliance Jio has raised funds for more than Rs. 152,000 crore by solding the stakes within few weeks. The last investment was done by Qualcomm Ventures, an investment arm of Qualcomm Inc.
Google has joined its rival Facebook which has already invested $5.7 billion for 9.9% of stakes. Some other strategic partners which have invested in Jio are Silver Lake, Mubadala Group, Intel and others.
Jio has already declared itself debt free company. Looking at the growing future prospects in internet Jio has become the biggest home company for e-commerce in India, just like Jac Ma’s Ali Baba company in China.
Earlier after the virtual meet of PM Narendra Modi and Google CEO Sundar Pichai, Google has announced a $10 billion fund in India with the aim to expand companies, bringing AI and increasing Internet awareness in rural areas.
We’ll do it (deploy funds) through a mix of equity investments in large Indian companies, startups, partnerships, as well as infrastructure investments such as data centres.
As said by Sundar Pichai,Indian based Google CEO.