FILE PHOTO: Commuters use their mobile phones as they wait at a bus stop with an advertisement of Reliance Industries’ Jio telecoms unit, in Mumbai, India July 10, 2017. REUTERS/Shailesh Andrade/File Photo
NEW DELHI (Reuters) – India’s Reliance Industries (RELI.NS) late on Friday said U.S. private equity fund Silver Lake and its co-investors will invest an additional 45.46 billion rupees ($601.40 million) in the company’s digital unit Jio Platforms.
The investment comes on top of the 56.56 billion rupees Silver Lake committed to Jio Platforms earlier this month.
Silver Lake’s new investment gives Jio Platforms — which houses Reliance’s telecoms arm Jio Infocomm and its music and video streaming apps — an enterprise value of 5.16 trillion rupees, Reliance said in a regulatory filing, and takes Silver Lake’s stake to 2.08% from just over 1%.
Reliance has now sold nearly 20% of Jio Platforms to investors, including Facebook Inc (FB.O), securing around $12 billion in less…
Source Reuters Tech News
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