 "reliance jio, RIL")
Reliance Industries Ltd has said that Abu Dhabi state fund Mubadala Investment Co will buy a 1.85 per cent stake in its digital unit, Jio Platforms, for Rs 9,093.6 crore.
Reliance has now sold a combined 19% interest in Jio Platforms, which houses movie, music apps and telecoms venture Jio Infocomm, in six fundraising deals including a 9.99% stake sale to Facebook Inc for $5.7 billion.
The interest in Jio Platforms highlights its potential to become the dominant player in India's digital economy. The telecoms unit has already decimated several rivals with cut-throat pricing and is counting on Reliance's retail network to
