Facebook eyes multi billion dollar stake in Reliance Jio: Financial Times

Delhi: Facebook is in talks to buy a multibillion-dollar stake in Mukesh Ambani’s digital operation Reliance Jio to expand its presence in the Indian digital market, according to a report by the Financial Times, citing people with knowledge of the discussions.

It added that the Silicon Valley technology giant was close to signing a preliminary deal for a 10 per cent share, but negotiations stalled because of the global travel bans that have been implemented since the coronavirus outbreak.

When contacted a Reliance spokesman declined to comment on the matter.