Foreign companies are investing one after another in the telecom company Reliance Jio. Mubadala Investment Company of Abu Dhabi has decided to invest Rs 9,093.6 crore in return for a 1.85 per cent stake in Jio. This is the sixth major foreign investment in Reliance Jio in the last six weeks.
Earlier, KKR, Facebook, Silver Lake, Vista, General Atlantic had recently invested in Jio Platforms. These 5 companies jointly invested a total of Rs 78,562 crore. Now after Mubadala’s investment of more than nine thousand crores, the total investment amount has been Rs 87,655 crores.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries said, “I am delighted that Mubadla, one of the world’s best and transformative investors has decided to partner with us. He will be a partner in our journey to make India a digital nation.” I have a long standing relationship with Abu Dhabi and I have noticed that Mubadala has done a tremendous job in connecting the UAE’s knowledge-based economy to the world and to diversify. We look forward to benefiting from Mubadala’s experience.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries (RIL) has expressed happiness over the investment in Mubadala’s Jio Platforms. He said in a statement, ‘Through my long-standing relationship with Abu Dhabi, I have personally seen the impact of Mubadala’s work. We hope the company will benefit from Mubadala’s experience. ‘
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Khaladun Al Mubarak, managing director and group CEO of Mubadala Investment Company, said his company is committed to working with and investing in high-growth companies. He said, ‘We have seen how Jio has already changed communication and connectivity in India. As an investor and partner, we are committed to supporting India’s digital development journey. With Jio’s network of investors and partners, we are confident that the company will drive the growth of the digital economy. ‘ Let us know that Reliance Jio Telecom Company also operates film, news and music apps. So far, 18.97 percent of foreign investment has been done in the company.