Campaign India Team
Jul 16, 2020

Official: Google to invest US$4.5 billion in Reliance Industries

Mukesh Ambani made the announcement during Reliance Industries' AGM.

Source: YouTube
Source: YouTube
A day after media reports suggested that Google will be acquiring a stake in Reliance Industries, Mukesh Ambani, chairman and MD, Reliance Industries, confirmed the news during an annual general meeting.
 
Google will be investing US$4.5 billion to get a 7.7% stake in Jio Platforms. The transaction is subject to regulatory and other customary approvals.
 
Earlier this week Google's CEO Sundar Pichai had announced that the company is looking to invest up to $10 billion in India in the next five to seven years. 
 
Reliance has now raised $20.3 billion in Jio Platforms in the last few months. 
 
 
 
 
Source:
Campaign India

Follow us

Top news, insights and analysis every weekday

Sign up for Campaign Bulletins

Related Articles

Just Published

10 hours ago

Unilever merges corporate affairs and sustainability...

Unilever’s sustainability chief has taken on corporate affairs responsibilities as part of a comms reshuffle at the consumer goods multinational.

11 hours ago

During the age of misinformation, the Baldoni-Lively...

Influencers have a responsibility to question their sources before sharing defamatory content.

15 hours ago

Digital marketing head Alice Au exits Wharf Hotels

Au steps down after four years, announcing her departure on LinkedIn.

3 days ago

Why Google has never looked more fragile as an ...

As the DOJ vs. Google case rumbles on into the new year, how can advertisers best prepare for a post-Chrome world?