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Abu Dhabi state fund in talks to invest $1 billion in Jio Platforms
Abu Dhabi state fund Mubadala Investment Company is in talks to invest about $1 billion in Reliance Industries’ digital unit Jio platforms, three sources said on Thursday.
Jio Platforms, which houses music and movie apps as well a Reliance’s telecoms venture Jio Infocomm, has secured a massive $10 billion from investors including Facebook Inc within a month.
Reliance did not immediately respond to a request for comment.
“Clearly Jio’s platform is attracting a wide range of world-class investors, given its enormous potential to serve one of the world’s largest marketplaces,” Mubadala said in an email to Reuters.
—Livemint
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