# Facebook's $5.7 Billion Jio Stake Approved by India Regulator 

**URL:** <https://onehack.st/t/facebooks-5-7-billion-jio-stake-approved-by-india-regulator/93560>\
**Category:** News & Articles\
**Tags:** tools, social-media, news\
**Created:** [June 24, 2020, 3:33pm UTC](https://onehack.st/t/facebooks-5-7-billion-jio-stake-approved-by-india-regulator/93560 "2020-06-24T15:33:35Z")\
**Posts on this page:** 2\
**Page:** 1

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**Author:** ![Astrid](https://onehack.st/user_avatar/onehack.st/astrid/32/174869_2.png) [@Astrid](https://onehack.st/u/Astrid)\
**Post date:** [June 24, 2020, 3:33pm UTC](https://onehack.st/t/facebooks-5-7-billion-jio-stake-approved-by-india-regulator/93560/1 "2020-06-24T15:33:35Z")

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![image](https://onehack.st/uploads/default/original/3X/f/8/f8f708c32f5c75334a339612d2adca5ed6186f3e.jpeg)

India’s antitrust regulator [approved Facebook’s purchase of a 9.99% stake in the digital services unit](https://www.bloomberg.com/news/articles/2020-06-24/india-antitrust-watchdog-clears-facebook-s-5-7-billion-jio-deal) controlled by billionaire Mukesh Ambani, giving the social media giant another foothold in one of the world’s fastest-growing online markets. From a report:

_The U.S.-based company will invest $5.7 billion in Jio Platforms through Jaadhu Holdings LLC, an indirect, wholly owned subsidiary of Facebook, according to a filing on the Competition Commission of India website. The clearance paves the way for a slew of smaller deals that take Jio’s parent – Reliance Industries Ltd. – closer to its goal of becoming net debt free by March 2021 while using its roughly 400 million wireless phone subscribers as the cornerstone of an e-commerce and digital services business. Ambani’s $65 billion digital unit has sold more than 20% in stakes to buyers including Facebook and U.S. private equity firms KKR, Silver Lake Partners and General Atlantic._

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**Author:** ![Saitama](https://onehack.st/user_avatar/onehack.st/saitama/32/38608_2.png) [@Saitama](https://onehack.st/u/Saitama)\
**Post date:** [June 25, 2020, 12:17am UTC](https://onehack.st/t/facebooks-5-7-billion-jio-stake-approved-by-india-regulator/93560/2 "2020-06-25T00:17:41Z")

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lets see what is there in their mind.