FILE PHOTO: A bird flies past a Reliance Industries logo installed on its mart in Ahmedabad, India January 16, 2017. REUTERS/Amit Dave
May 4, 2020
BENGALURU (Reuters) – Reliance Industries Ltd <RELI.NS> said on Monday private equity firm Silver Lake will invest 56.56 billion rupees ($746.74 million) in its digital arm, giving it a valuation of 4.90 trillion rupees.
The deal comes days after Facebook <FB.O> said it would spend $5.7 billion to buy a 9.99% stake in Jio Platforms – the digital services entity that houses Reliance’s telecoms arm Jio Infocomm, as well as its news, movie and music apps, along with other businesses.
(Reporting by Chris Thomas in Bengaluru;Editing by Aditya Soni)
