Google could be next in line for stake in India's Jio
This would make it latest global tech giant to take an exposure in Ambani enterprise
Mumbai: Alphabet Inc's Google is in advanced talks to invest $4 billion for a stake in the digital arm of Indian conglomerate Reliance Industries Ltd.. An announcement could come as soon as the next few weeks, according to the report.
Investors, including Facebook and KKR & Co, have already poured in a combined $15.64 billion for just over 25 per cent in Jio Platforms. The funding spree, which began late April, and a share sale by Reliance have helped make India's biggest company by market value net-debt free.
The report comes a day after Google said it would spend around $10 billion in India over the next five to seven years through equity investments and tie-ups, in its biggest commitment to a key growth market.