INSUBCONTINENT EXCLUSIVE:
CCI has cleared Facebook's stake acquisition in Jio PlatformsFair trade regulator Competition Commission of India (CCI) on Wednesday
approved Facebook's bid to acquire 9.99 per cent stake in Reliance Industry Limited's (RIL) telecom arm Jio Platforms
As per documents, Facebook will acquire the stakes via Jaadhu Holdings LLC, a new entity
CCI informed about the approval via a tweet.As a result of the approval, Facebook's entity Jaadhu Holdings has now become the largest
minority shareholder in the company.On April 22, Jio announced an investment of Rs 43,754 crore from the social media giant, thus kicking
off a series of investments into the company
Since then, Reliance Industries, has sold 24.70 per cent stake in Jio Platforms for Rs 1,15,693.95 crore via 11 such deals.Along with the
stake sale, Jio Platforms, Reliance Retail and Facebook's app-based messaging service WhatsApp have also entered into a commercial
partnership agreement to accelerate Reliance Retail's new commerce business on the JioMart platform using WhatsApp to support small
