Google to seek CCI nod for stake buy in Jio Platforms

US internet giant Google will soon seek approval of the Competition Commission of India (CCI) for its ₹33,737 crore investment in Jio Platforms for a 7.73% stake, said people familiar with the matter. Like its arch rival Facebook, Google will get a board seat in Jio Platforms once the transaction gets all regulatory approvals.

The CCI permission is needed as both companies have access to large amounts of customer data through their presence in the mobility segment, in addition to their large assets and turnover, said the persons. It will be the acquirer — Google — which will file for approval and the process could start within the next two weeks.