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Reuters
Reuters
Business

Facebook eyes multi billion dollar stake in Reliance Jio: FT

FILE PHOTO: A Facebook logo is displayed on a smartphone in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

Facebook Inc <FB.O> is in talks to buy a multi billion dollar stake in Reliance Industries Ltd's <RELI.NS> telecom unit, the Financial Times reported on Tuesday, citing two people with knowledge of the matter.

The report https://on.ft.com/2wyFwc1 said the social media giant was in talks for a 10% stake in Jio, controlled by India's wealthiest man Mukesh Ambani, but the talks were halted due to global travel bans amid the coronavirus outbreak.

Facebook declined to comment.

FILE PHOTO: Commuters are reflected on an advertisement of Reliance Industries' Jio telecoms unit, at a bus stop in Mumbai, India, February 21, 2017. REUTERS/Shailesh Andrade

(Reporting by Amal S in Bengaluru)

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