Google Might Invest $4 Billion In Jio Platforms

Reliance Jio has raised Rs. Rs. 118,318.45 crore from 12 investors. The company has sold its 24.25 stake, and now Google is reportedly planning to invest $4 billion in its platform. In fact, it is expected that the company is likely to make an official announcement soon.

It is expected that the companies are in advanced talks and they will share the details in the coming weeks, reports Bloomberg. However, both companies have refused to comment, so there are chances that it could be speculation as earlier there were rumors that Google might invest in Vodafone-Idea.

But still, it is worth mentioning that Google and Jio's development comes after the former announced its plans to invest $10 billion in India. Google will be investing in four areas of digitization, including languages. Besides, the company will focus on partnerships and investments.

Notably, Reliance Jio is now a favorite spot for global investors as Facebook, Intel, and Qualcomm have already announced their plans. On the other hand, Reliance Jio, which is serving more than 388 customers, has announced that it has already got money from Vista, KKR, Mubadala, ADIA, and TPG.

Meanwhile, Reliance Industries is going to hold its 43rd Annual General Meeting on Wednesday, where it is expected to make announcements on these stake selling deals and future strategies to take on other operator operators.

Apart from that, the company is likely to announce JioMart and its services. Besides, you can expect some announcement on the tariff plans for both the telecom and broadband segment as last year it had launched the Monsoon offer.

Furthermore, Reliance Jio has added 4.8 million customers in March this year. This means that the company outperformed both Vodafone-Idea and Airtel. In fact, both operators have lost 1.26 million customers during that month, and now their subscriber base stands at 283.66 million and 291.1 million by the end of March.