Google in talks to invest $4 billion in Reliance’s digital arm
Tue Jul 14 2020
Mark Cooper (1723 articles)

Google in talks to invest $4 billion in Reliance’s digital arm

Alphabet Inc’s Google is in advanced talks to invest $4 billion for a stake in the digital arm of Indian conglomerate Reliance Industries Ltd, Bloomberg reported on Tuesday, citing people familiar with the matter.

Google declined to comment, while Reliance did not immediately respond to a request for comment.

Investors, including Facebook and KKR & Co, have already poured in a combined $15.64 billion for just over 25% in Jio Platforms. The funding spree, which began late April, and a share sale by Reliance have helped make India’s biggest company net-debt free.

Mark Cooper

Mark Cooper

Mark Cooper is Political / Stock Market Correspondent. He has been covering Global Stock Markets for more than 6 years.