Facebook has paid $5.7 billion for a 9.9 percent stake in India's Reliance Jio, the social media giant announced Tuesday.The mobile telecommunications arm of the conglomerate Reliance Industries, Reliance Jio was established in 2016 and has quickly established itself as a dominant player in India with over 370 million subscribers making it the largest mobile telco in the country and third largest in the world by subscribers.As well as rapidly spreading social media use in India, Reliance Jio's cheap payment plans have also led to an explosion of video and music streaming in the country through its products JioSaavn and JioTV.Facebook's investment in Reliance Jio also comes as its messaging platform Whatsapp has won regulatory approval in.
Read more on billboard.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.