Facebook seeks legal advice on $5.7-billion investment in Jio Platforms

Social media giant has some investors from China, wants clarity on beneficial ownership norms

Facebook (FB), ahead of its $5.7-billion investment in Jio Platforms, has sought legal advice pertaining to India’s new foreign direct investment (FDI) policy towards neighbouring countries, particularly China and Hong Kong. While the social media giant is founded and headquartered in the US, being a public-listed company it has investment from several funds based out of China and Hong Kong.

Sources say the Mark Zuckerberg-led company wants to ensure there are no issues in its investment in the subsidiary of Reliance Industries.

It has roped in one of the Big Four consultancy firms to advise it on how the new