Google to seek CCI approval for its Rs. 33,737 crore investment in Jio Platforms
Tech giant Google is set to approach India’s fair trade regulator – the Competition Commission of India (CCI) to seek approval for its investment worth Rs. 33,737 crore in Jio Platforms for a 7.73% stake. The deal was announced on July 15, 2020.According to sources, Google plans to approach the CCI for approval on the deal in the next two weeks.Google and Jio are partnering to build...
Tech giant Google is set to approach India’s fair trade regulator – the Competition Commission of India (CCI) to seek approval for its investment worth Rs. 33,737 crore in Jio Platforms for a 7.73% stake. The deal was announced on July 15, 2020.
According to sources, Google plans to approach the CCI for approval on the deal in the next two weeks.
Google and Jio are partnering to build an operating system that could power affordable 4G and 5G smartphones.
The CCI last month gave approval to Facebook for its investment in Jio Platforms – a transaction that was carried out through a wholly-owned indirect subsidiary, Jaadhu Holdings LLC.