InvestorQ : With the CCI approving the Facebook deal, is it a done deal for Reliance Jio
Arya Nanda made post

With the CCI approving the Facebook deal, is it a done deal for Reliance Jio

Answer
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Deepa Salunkhe answered.
3 months ago


Yes that was the only issue left out as the CCI was exploring if the deal would give them unfair access to data. Based on their findings, the Competition Commission of India or CCI approved Facebook's proposed acquisition of 9.99% in Jio Platforms, the digital platform of the Reliance Group. Facebook will acquire the stake through its subsidiary Jaadhu Holdings.

It may be recollected that the deal was worth $5.7 billion and marked the first round of monetization by Jio Platforms. The deal gives Facebook a firm foothold in India's fast-growing digital market while Jio is able to use the combined reach of Facebook and Instagram. Of course, RIL is able to reduce its debt burden.