Opinion | RIL’s ‘phygital’ commerce may give Zuckerberg the desired foothold in India

When naming his telecom foray in 2016, Mukesh Ambani chose the mirror image of OIL, the commodity that has made him India’s richest man. In hindsight, Jio was a good choice. The week that oil prices turned negative, the refining tycoon won a $5.7 billion investment from Facebook Inc. for his digital assets, Jio Platforms Ltd.

Like his wordplay, the performance has proven the opposite of the original.

The 10% stake values the business at a 47% premium over the $45 billion estimated last year by CLSA Ltd.