Google Can Invest Rs 30,000 Crore In Reliance Jio & Claim A Slice Of India’s Telecom Industry
As per reports coming in, World’s biggest digital and Internet company: Google can invest $4 billion or Rs 30,000 crore in Reliance Jio, which is right now India’s most powerful telecom operator.
Google can announce this investment in the coming weeks, as per the reports.
Will Google Invest $4 Billion In Reliance Jio?
As per news portal Bloomberg, Google is in the final stages of investing $4 billion or Rs 30,000 crore into Reliance Jio.
If this investment happens, then Google can acquire a portion of Reliance Jio, and this way, claim of slice of India’s telecom sector.
Sundar Pichai, who is the CEO of Alphabet, the holding company of Google, has good relations with the Ambani family, and he along with his wife had even attended wedding ceremony of Akash Ambani last year.
Recently, Facebook too invested $5.7 billion into Reliance Jio to acquire 9.99% stake in the company.
Hence, in a way, both Google and Facebook will become stakeholders in Jio in the coming weeks, if this investment is indeed happening.
More details are awaited.
Why Google Can Invest in Jio?
Jio is right now India’s biggest, and fastest growing telecom service provider with more than 30 crore subscribers.
And Google has recently announced an investment of $10 billion in India to expand their digital footprint and to enable a digital revolution in India.
Hence, acquiring a stake in India’s biggest telecom provider makes perfect sense for Google, and claiming a stake in India’s telecom sector do makes sense for them.
Incidentally, Mukesh Ambani recently overtook Larry Page, co-founder of Google to become World’s 6th richest person with total worth of $72.4 billion.
This partnership between Google and Jio seems super-exciting and interesting as of now.
Indian Telecom Firms Getting Massive Investments
Interestingly, Google was earlier rumored to invest in Vodafone-Idea, and Amazon is rumored to make plans to acquire a stake in Bharti Airtel by investing Rs 15,000 crore.
Now, in case Google does makes an investment into Jio, and Amazon invests in Airtel, then India can witness one of the biggest data and funding wars in recent times.
We will keep you updated, as more details come in.