Reliance Industries has welcomed a new investor in Indian operator Jio Platforms, with the acquisition by Qualcomm of a 0.15 percent stake on a fully diluted basis for EUR 85.7 million. Reliance Industries said the deal will deepen the ties between Qualcomm and Jio Platforms and help the company deploy 5G for Indian customers.
The deal is subjet to the usual regulatory conditions.
Jio has raised about EUR 14.85 billion over the past few months, with Intel coming last on board before Qualcommn. Saudi Arabia’s Public Investment Fund, TPG, L.Catterton, Facebook, Silver Lake, ista Equity Partners, General Atlantic, KKR, Mubadala and Adia have also taken shares. Amazon and Vista have also bought stakes.
