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CCI approves Facebook’s investment in Jio via Jaadhu Holdings



CCI approves Facebook’s investment in Jio via Jaadhu Holdings

Antitrust watchdog Competition Commission of India has approved Facebook’s proposed investment in Jio Platforms via its newly formed subsidiary Jaadhu Holdings LLC.

The commission made the announcement via a tweet on Wednesday.

In April, the US-based social media giant had announced a $5.7 billion or Rs 43,574 crore investment in Jio Platforms Limited, part of Reliance Industries Limited, for a minority stake of 9.99%.

The deal was under the review of CCI for quite some time to check the potential of misuse of data.

Continue reading CCI approves Facebook’s investment in Jio via Jaadhu Holdings at Entrackr.



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Written by Harsh Upadhyay

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CCI approves Facebook’s 9.99 pc stake in Jio Platforms