As per reports, Facebook is likely to acquire a stake in Mukesh Ambani’s Reliance Jio Infocomm, as per a national publication. The report said that social media giant, Facebook was about to close to an initial agreement to pick up a 10 percent stake. However, discussions hadn’t really moved forward, due to the global disruption of the Covid-19 outbreak.
According to the national publication, Google had been talking to Jio separately. Last year, Microsoft had said that last year it would be providing cloud computing services to businesses with Jio. It’s not a secret that India is the biggest market for Facebook with around 328 million monthly users; additionally, Facebook-owned WhatsApp messaging app has around 400 million users in India.
At present, Reliance Jio commands a subscriber base of 370 million in India. Renowned analysts at Bernstein say that Reliance Jio’s valuation is more than $60 billion now. Operations at Reliance Jio first began in September 2016. When it first began, Jio had started a price war in the Indian telecom sector by offering 4G at very cheap rates and voice calls free of charge. Surprisingly, now, when the AGR crisis has the telecom sector on edge, seems that Jio is in a good spot.
Mukesh Ambani, his wife and three children have raised their personal shareholding in Reliance Industries by acquiring 3.20% shares from another promoter group entity, the company said in a regulatory filing.
Ever wondered who is Tattvam Enterprises LLP , who is continuously buying in RIL in this month of crisis when all stock are going down , all investors are taking out their money from stocks like Bajaj Finance, Nestle India and many more.
Tattvam Enterprises Llp is a Limited Liability Partnership firm incorporated on 21 April 2010. It is registered at Registrar of Companies, Mumbai. Its total obligation of contribution is Rs. 9,900,000.
Designated Partners of Tattvam Enterprises Llp are Anant Mukesh Ambani, Priyen Jayantilal Shah,
Designated Partners of Tattvam Enterprises Llp are Anant Mukesh Ambani, Priyen Jayantilal Shah,
Yes Anant Mukesh Ambani is a partner in this firm. and following is the investment of TATTVAM ENTERPISES LLP in RIL in this Month.
Interesting
ReplyDelete