CCI approves Facebook's 9.99% stake buy in Jio Platforms
1 min read . Updated: 24 Jun 2020, 05:42 PM ISTIn April, Facebook announced an investment of $5.7 billion ( ₹43,574 crore) in Jio Platforms
New Delhi: The Competition Commission of India (CCI) on Wednesday said it has approved Facebook's proposed acquisition of 9.99 per cent stake in Jio Platforms.
In April, Facebook announced an investment of USD 5.7 billion ( ₹43,574 crore) in Jio Platforms.
The acquisition was to be done through Jaadhu Holdings LLC.
In a tweet, the CCI said it has approved "acquisition of 9.99 per cent stake in Jio Platforms by Jaadhu Holdings LLC".
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
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