Qatar Investment Authority in advanced talks to make $1.5 bn investment in JioFiber: Report

NEW DELHI: Qatar Investment Authority is in advanced talks to invest Rs 11,200 crores (about $1.5 billion) into JioFIber, Mint reported citing sources.

The report said Reliance Industries is now planning to monetize its assets under its Jio Digital Fibre unit after having raised over $20 billion via stake sales in Jio Platforms.

The report added that RIL has roped in Citigroup Global Markets, Moelis and Co and ICICI Securities Ltd for the deal .

The development follows suit of several such investments in RIL which is trying to remodel itself as an emerging consumer tech player, apart from being an oil & gas conglomerate. Its digital and telecom unit Jio is also betting big on the next-gen 5G technology.