Mergers & Acquisitions Mergers & Acquisitions

Facebook stakes $5.7 billion in India's largest Internet provider

By Phoebe Seers
  • 22 Apr 2020 05:24
  • 22 Apr 2020 05:24
Facebook, the world’s biggest social networking site, has secured nearly 10 percent of Reliance Jio, India’s largest Internet provider, in exchange for $5.7 billion. 

The deal also has implications for India’s hotly contested e-commerce sector as WhatsApp, the Facebook-owned chat app, teams up with Jio’s new e-commerce platform JioMart to connect small merchants with

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Phoebe Seers

Correspondent


Phoebe has covered Financial Crime and compliance issues for MLex since 2015, initially in the Hong Kong bureau and currently in London. While in Hong Kong she won two SOPA awards for her reporting on corruption in the energy sector in Indonesia. Prior to journalism she worked as a solicitor with a focus on white-collar crime litigation in London and Hong Kong. She has a BA in English and Philosophy from Newcastle University.

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