Deals
Facebook Held Talks for 10% Stake in Reliance Jio, FT Says
- Talks stalled due to coronavirus travel ban, newspaper reports
- Indian mobile carrier stake is valued at billions of dollars
The logo of Reliance Jio is displayed inside a store in Mumbai.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
Facebook Inc. is in discussions to take a multibillion-dollar stake in Indian wireless provider Reliance Jio, the Financial Times said, citing two people familiar with the negotiations.
The social-networking giant was close to signing a preliminary deal for 10% of the carrier before travel bans related to the Covid-19 pandemic stalled negotiations, the Financial Times reported. Alphabet Inc.’s Google had also held talks about a stake, the newspaper said, citing a person briefed on the negotiations. The paper didn’t name any of its sources.