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Abu Dhabi State Fund Said to Be in Talks to Invest $1 Billion in Jio

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Abu Dhabi state fund Mubadala Investment Company is in talks to invest about $1 billion (roughly Rs. 7,576 crores) in Reliance Industries’ digital unit Jio platforms, three sources said on Thursday. Jio Platforms, which houses music and movie apps as well as Reliance’s telecoms venture Jio Infocomm, has secured a massive $10 billion (roughly Rs. 75,762 crores) from investors including Facebook 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.

Developing copy, check back for more

© Thomson Reuters 2020

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