5G: Mukesh Ambani’s Jio seeks to buy homegrown startups, companies

New Delhi: Reliance Jio GenNext, a startup accelerator of telecom operator Reliance Jio Infocomm’s parent Reliance Industries, has made buyout or investment proposals to a few domestic companies developing fifth-generation (5G) solutions as part of its attempt to launch a locally built next generation network, said people aware of the matter.

“Some of the domestic companies have recently received business proposals from Reliance Jio GenNext, which wants to acquire local firms developing 5G technology-based solutions,” said one of the persons, who did not wish to be identified.