Internet major Google is reportedly in advanced talks to buy a stake for around $4 billion in Jio Platforms Ltd, Bloomberg reported citing sources.
Updated: July 14, 2020, 20:25 IST
Bloomberg report said that details of the potential deal could change, and negotiations could still be delayed or fall apart.
The search giant's boss Sundar Pichai, in an interview to earlier, had neither denied nor confirmed reports of Google's interest in Jio.
Google on Monday said that that it will invest $10 billion in India through a new digitisation fund over the next 5-7 years. The investment will be done through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments, Google said.
So far, 12 investors have picked up a stake in Reliance Industries Ltd’ (RIL’s) telecom and digital business in less than two months.
Qualcomm ventures, Intel Capital, social media firm Facebook, Abu Dhabi’s two largest sovereign investment arms--Abu Dhabi Investment Authority and Mubadala, private equity firms Silver Lake (which invested in two tranches), Vista Equity Partners, General Atlantic, KKR, TPG, L Catterton and Saudi Arabia’s Public Investment Fund (PIF), have invested in Jio Platforms.