5G plan, Google stake in Jio Platforms see Voda Idea, Airtel slip up to 6%

Reliance Industries (RIL) in exchange filing today announced that Jio Platforms, a subsidiary of the Company, has signed binding agreements with Google International LLC

Shares of telecom services providers - Bharti Airtel and Vodafone Idea - lost up to 6 per cent in intra-day trade on the BSE on Wednesday, after Mukesh Ambani announced that Google will buy 7.73 per cent stake in Jio Platforms for Rs 33,737 crore. That apart, Ambani said the company plans to design an entry level 4G, or even 5G smart phone, to support India's cellular market.

“Jio has developed a complete 5G solution from scratch that will enable us to launch a world-class 5G service in India. Jio 5G will set precedent for #AatmanirbharBharat, and all of