Facebook buys a 9.99% stake in Reliance Jio for Rs 43,574 crore
Facebook buys a 9.99% stake in Reliance Jio for Rs 43,574 crore
What can be termed as the deal of the decade the social media giant Facebook run by Mark Zuckerberg has announced the investment to the tune of 5.7 billion dollars or forty-three thousand five hundred and seventy-four cores in Mukesh Ambani run Reliance Industries Limited.
Facebook has bought a 9.99% stake in Reliance Industries Limited. Facebook is now looking to expand its presence in India its largest market in terms of subscriber base this is the largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India.
The investment values Jio platforms amongst the top five listed companies in India by market capitalization within just three and a half years of the launch of commercial services.
Jio platform’s reliance detail and Facebook’s WhatsApp services have also entered into a commercial partnership agreement to further accelerate reliance retails new commerce business on the jio mart platform using WhatsApp.
The Facebook deal is now the centerpiece of the ambition of India’s biggest private company to cut net debt to zero by March 2021.
Share prices of Reliance Industries after the news broke out rose up to 103 points or 8.33% two rupees 1339 against the previous close of 1236 rupees.
On the other hand, Sensex was trading 131 points higher at 30758 on nifty to Reliance Industries share price was a top gainer.
The index heavyweight gained over eight percent two rupees 1339 rupees on NSE.
Let us hear what the two company owners have to say.
What Mukesh Ambani Said About Facebook Invested $5.7 Billion In Reliance Jio
My fellow Indians Namaskar, I trust that all of you are safe in well. I am here to share with you some exciting news today.
All of us at Reliance and jio are delighted to welcome Facebook Inc as of a long-term an esteemed partner.
At the core of our partnership is the commitment that Mark Zuckerberg founder of Facebook and I share for the all-around digital transformation of India and for serving all Indians.
Together our two companies will accelerate India’s digital economic to empower you to enable you and to enrich.
Our partnership will be a great catalyst to make India the world’s leading digital society.
Over the past few years Facebook whatsapp and Instagram have become household names in India.
Whatsapp in particular has entered our people’s daily vocabulary in all the 23 official languages of India.
Whatsapp is not just a digital application it has become apka aur hum sabka pyara dost. A freind who brings together families’ friends businesses, they are information seekers and providers.
The combined power of Jio’s world-class digital connectivity platform and Facebook’s intimate relationship with the Indian people will offer innovative new solutions to each one of you in the very near future Jiomart Jio’s Digital new eCommerce platform and WhatsApp will empower nearly 3 crores small Indian Kirana shops to digitally transact with every customer in their neighborhood.
This means all of you can order and get faster delivery of day-to-day items from nearby local shops.
At the same time, small kiranas can grow their businesses and create new employment opportunities using digital technology.
And in the days to come this winning recipe will be extended to serve other key stakeholders of Indian society.
Our kisans are small and medium enterprises our students and teachers are healthcare providers and above all women and youth who form the foundation of a new India.
Our visionary and most respected Prime Minister Shri Narendra Modi ji has said two ambitious goals in his digital India mission ease of living for all Indians especially for the common Indians.
And ease of doing business for all entrepreneurs especially for the small entrepreneur.
Today I assure you that the synergy between Jio and Facebook will help realize these two goals.
Finally, I take this opportunity to wish each and every one of you good health and safety in the current extraordinary situation in India and around the world.
We are all in this together and together we will overcome this pandemic Coroana Harega India Jitega, with our collective efforts India will surely emerge stronger healthier and better.
What Mark Zuckerberg Said About Facebook Invested $5.7 Billion In Reliance Jio?
Facebook is joining forces with a new partner in India.
We’re making a major financial investment and we’re going to become the largest minority shareholder in jio platforms.
But more than that we’re also committing to work together on some critical projects that we think are going to open up a lot of opportunities for commerce in India.
Now India is a special place for us it’s home to the largest communities around the world on Facebook and Whatsapp and there are a lot of talented entrepreneurs.
And it’s also in the middle of a major digital transformation that’s being led by organizations like Jio that over the last four years have worked to get hundreds of millions of Indians onto the internet.
And that’s a big deal because when people get access to the internet and digital tools they’re empowered to do a whole lot of new things learning and teaching and finding communities of people they care about and of course starting all kinds of new businesses and this is really important especially right now because small businesses are the core of every country’s economy and they need our support.
India has more than 60 million small businesses and millions of people rely on them for their jobs and livelihoods.
And a lot of entrepreneurs now need tools that they can rely on to help them find and communicate with their customers and to grow their businesses.
Now with a lot of communities around the world and lock down it’s even more important now than ever that people have the tools to connect with each other.
And that businesses can find ways to operate online and this is something that we think that we can help with which is why we were proud to be partnering with jio to help people and businesses in India create a lot of new opportunities and we’re gonna share more on this soon.
So, I wanna thank Mukesh Ambani and the entire jio team for your partnership I think we’re gonna be able to build a lot of great thing is that people find valuable in their daily lives and importantly that make it easier to live and easier to do business.
This is an important moment for all of us and I want to personally extend a welcome to all others who want to get involved and help in this effort.
We’re looking forward to getting started so thank you.
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