Facebook's 9.99% stake purchase in Jio Platforms gets CCI nod

Facebook CEO Mark Zuckerberg and Reliance Industries chariman Mukesh Ambani.BCCL / Business Insider India
  • The Competition Commission of India has approved Facebook’s $5.7 billion acquisition in Jio Platforms.
  • The social media giant has acquired 9.99% in Mukesh Ambani-led Jio Platforms.
The Competition Commission of India (CCI) on Wednesday said it has approved Facebook's proposed acquisition of 9.99 per cent stake in Jio Platforms. In April, Facebook announced an investment of USD 5.7 billion (Rs 43,574 crore) in Jio Platforms.

The acquisition was to be done through Jaadhu Holdings LLC.

In a tweet, the CCI said it has approved "acquisition of 9.99 per cent stake in Jio Platforms by Jaadhu Holdings LLC".

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