Egypt Independent

Abu Dhabi state fund in talks to invest US$1 bn in Jio Platforms: sources



NEW DELHI (Reuters) — Abu Dhabi state fund Mubadala Investment Company is in talks to invest about one billion US dollars in Reliance Industries’ digital unit Jio platforms, three sources said on Thursday.

Jio Platforms, which houses music and movie apps as well a Reliance’s telecoms venture Jio Infocomm, has secured a massive $10 billion from investors including Facebook Inc 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.

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Reporting by Sankalp Phartiyal in New Delhi, Saeed Azhar in Dubai and Sumeet Chatterjee in Hong Kong; Editing by David Goodman

Image: A woman checks her mobile phone as she walks past a mobile store of Reliance Industries’ Jio telecoms unit, in Mumbai, India, July 11, 2017. (REUTERS/Shailesh Andrade/File Photo)