Facebook to acquire 9.9 per cent stake in Jio Platforms via Jaadhu Holdings

NEW DELHI: Facebook will acquire 9.9 per cent stake in Jio Platforms announced last month via a new entity — Jaadhu Holdings LLC, as per regulatory documents.

In April, Facebook had announced an investment of USD 5.7 billion (Rs 43,574 crore) in Jio Platforms. According to a submission made to the Competition Commission of India, Jaadhu Holdings, LLC is an indirect wholly owned subsidiary of Facebook, Inc.