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Facebook wants stake in Ambani's Reliance Jio

As per many sources, it has been reported that Facebook is looking to buy a major stake in Mukesh Ambani's Reliance Jio. The deal is said to be of about 10% which will be easily a multibillion dollar stake. The social giant was already very close to get this deal done but got interrupted due to the Corona pandemic. The motive of Facebook with this deal is to set itself in the Indian market even better as it plans to start its WhatsApp payment service. With Jio having 370 million users, it will act as a great advantage for Facebook.

Source: Business Today