Recently, Facebook has acquired 9.99% stake in Reliance Jio for INR 43,574 crore (USD 5.7 Billion). The investment by Facebook is the largest ever foreign Direct Investment (FDI) deal in the Indian technology sector thus far. The Jio- Facebook deal comes as a major blow to other players in the market because of the huge amount of data possessed by these two companies. Therefore, the Competition Commission of India (CCI) may have to look into several aspects of the Jio- Facebook deal to examine if this is a fair merger and no undue advantage is provided to these two companies after the legal and technical terms are finalised by the parties.
There are around 388 Million Jio users, 328 million Facebook users and around 400 million users on WhatsApp. The combined reach of the two companies will now include the following platforms:
Originally published May 11, 2020
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