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”.
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TheNews21 is India’s independent digital news and investigative journalism platform founded by senior journalist Vivek Bhavsar. From its Mumbai newsroom, it reports on governance, politics, public policy, business and international affairs, while publishing in-depth investigative stories in the public interest.
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