Facebook CEO Mark Zuckerberg may have sent a ‘friend request’ to Mukesh Ambani

In what came as a surprising piece of news, it was reported yesterday that Facebook was eyeing a stake in Reliance Jio. According to a report by Financial Times, the Mark Zuckerberg-led social networking giant is in talks with Mukesh Ambani’s Reliance Industries to acquire 10% stake in Reliance Jio. The report quotes two people close to the matter who have revealed that the size of the deal is in “billions of dollars”.
Now, the exact valuation of Reliance Jio can’t be accurately made but back in November analysts had estimated its value to be around $70 billion (roughly around Rs 5,300 crore). If Facebook were to acquire 10% stake in Reliance Jio then it would have had to shell out close to Rs 530 crore to do so.
The talks between the two companies, as per Financial Times, were put on hold because of the coronavirus outbreak since travel bans have been put in place.