CCI approves Google’s $4.5 billion deal with Jio

Mumbai: The Competition Commission of India (CCI) has approved Google picking up 7.73% stake in Jio Platforms for Rs 33,737 crore , clearing way for the internet giant to jointly develop entry level Android smartphones. The nod comes at a time when there is intense scrutiny over the impact of global firms including Google on smaller companies.

Google, which signed the pact on July 15, will be making the investment into the digital arm of Reliance Industries through its wholly-owned subsidiary, Google International LLC (GIL).

The nod comes within days of CCI ordering a probe into two of several allegations made in a complaint filed in February by an unnamed informant related to exclusive use of Google Pay (GPay) for buying apps and in-app purchases (IAPs) via the Play Store and pre-installation and prominence of Google Pay on Android smartphones.