News > Abu Dhabi’s Mubadala to invest $1.2 billion in Reliance’s Jio Platforms

Abu Dhabi’s Mubadala to invest $1.2 billion in Reliance’s Jio Platforms

Firstpost | 05/06/2020 07:55 AM | Click to read full article

Indian oil-to-telecoms conglomerate Reliance Industries Ltd said on Friday that Abu Dhabi state fund Mubadala Investment Co will buy a 1.85% stake in its digital unit, Jio Platforms, for 90.93 billion rupees. Reliance has now sold a combined 19% interest in Jio Platforms, which houses movie, music apps and telecoms venture Jio Infocomm, in six fundraising deals including a 9.99% stake sale to Facebook Inc for $5.7 billion.