CCI approves Facebook’s acquisition of 9.99 pc stake in Jio Platforms
Jio Platforms also holds 100 per cent of the issued and outstanding share capital of Reliance JioInfocomm Limited (RJIL).
New Delhi: The Competition Commission of India (CCI) on Wednesday approved the acquisition of a 9.99 per cent stake in Jio Platforms by Jaadhu Holdings LLC, an indirect wholly-owned subsidiary of Facebook.
Jaadhu is a newly incorporated company formed in March under the laws of the State of Delaware, United States.
Jio Platforms is a subsidiary of RIL. Jio Platforms owns (directly or indirectly) and operates digital applications, and holds controlling investments in certain technology-related entities.
Jio Platforms also holds 100 per cent of the issued and outstanding share capital of Reliance JioInfocomm Limited (RJIL).
RJIL provides telecommunications services to users across the country.
A detailed order of the CCI will follow. (ANI)