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CCI approves Facebook's 9.99% stake buy in 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.

Siddhartha Singh

Siddhartha SinghBy Siddhartha Singh

Published on 24 Jun 2020 7:32 AM GMT

CCI approves Facebooks 9.99% stake buy in Jio Platforms
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CCI approves Facebook's 9.99% stake buy in Jio Platforms
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New Delhi: 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".

(PTI)

Siddhartha Singh

Siddhartha Singh

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