After Facebook, Reliance in talks with other investors to offload more stake

Days after selling a stake in its digital arm to Facebook for USD 5.7 billion, Reliance Industries on Thursday said it is in talks with other strategic and financial investors for a similar-sized deal that will help cut debt at the unit that houses India’s youngest but biggest mobile operator.

Without revealing the identity of the companies, RIL in its fourth-quarter earnings statement said the investment would be announced in the coming months.

“In addition to the FB investment, the board was informed that RIL has received strong interest from other strategic and financial investors and is in good shape to announce a similar-sized investment in the coming months,” it said.