Jio Secures $4.5B From Google In Deal Piloted By 4 Firms

Law360 (July 15, 2020, 10:37 AM EDT) -- Google will pay $4.5 billion for a minority stake in Jio Platforms, the companies said Wednesday, in an agreement that was guided by four law firms and represents the fourth blockbuster investment for the Indian technology company in the last four months.

The deal sees Google LLC buying a 7.73% equity stake in Jio Platforms Ltd., which is the technology and telecommunications subsidiary of Indian conglomerate Reliance Industries Ltd., according to a statement. The investment is meant to help Jio in its efforts to expand internet services across India; the company says that there are currently more than 500 million internet...

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