Facebook Inc will pick up about 10% of Jio Platforms, billionaire Mukesh Ambani owned Reliance Industries Ltd’s digital technology arm, for $5.7 billion, both the companies have said.
The US social media company also said the deal would bring together JioMart, an e-commerce venture of Mukesh Ambani, and its WhatsApp platform to enable people to connect with businesses.
The Jio Platforms purchase is Facebook’s biggest since its 2014 acquisition of WhatsApp.
