After Facebook bought around a 10% stake in Reliance Jio it’s time for another tech giant to step in. This time it is Microsoft Corp. who is negotiating an investment in the company owning India’s largest mobile network.
“Microsoft has been in discussions with several players in the digital payments services space. With Reliance, Microsoft is interested in buying more than a 2.5% stake in Jio Platforms“, said an insider as per reports from Livemint. If the deal gets through then Jio would get a second big stakeholder in a month’s time.
Earlier in February this month Microsoft’s chief executive Satya Nadella said the company has forged a partnership with Reliance Jio. That was in regard to setting up of data centers across the country and use Microsoft Azure’s cloud services for enterprise clients.
Recently American global investment firm KKR agreed to pay ₹11,367 crores for a 2.32% stake in Jio Platforms. This was KKR’s single-largest investment in Asia so far. During the last 1-2 months, the deals have fetched Jio Platforms a valuation of around ₹4.91 trillion.
