Google to approach Competition Commission of India for approval on Rs 33,737 crore deal with Jio Platforms

Tech giant Google will approach the Competition Commission of India (CCI) to seek approval for its Rs 33,737 crore investment in Jio Platforms for a 7.73 percent stake, according to sources.

Google plans to approach the CCI for approval on the deal in the next two weeks, according to the sources privy to the development.

When contacted, Google and Reliance Jio did not comment on the matter.

The deal, which was announced on July 15 at Reliance Industries’ annual general meeting, will see Google pick up 7.73 percent stake in RIL’s technology venture Jio Platforms for Rs 33,737 crore. The partnership will also see the two parties cooperate on technology initiatives, including development of affordable smartphones.