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”.
TheNews21 is a leading national English news portal spear headed by Founder and Editor in Chief Mr. Vivek Bhavsar. Operating from the island city of Mumbai, it covers regional and federal current affairs related to politics apart from major foreign affairs issues. The portal also hosts in-depth investigation features, developments in the business sector, and keeps a pulse on the world of sports and entertainment.
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