(Reuters) – Facebook Inc announced a $5.7 billion investment in Reliance Industries Ltd’s telecom unit on Wednesday, making it the largest minority shareholder in Jio Platforms Limited.
The social media giant said it would focus on collaborating its messaging platform WhatsApp with Reliance’s e-commerce venture JioMart to enable people to connect with businesses, shops and purchase products.
Last month, Financial Times reported that social media giant was in talks for a 10% stake in Jio but the talks were halted due to global travel bans amid the coronavirus outbreak.
(Reporting by Bhargav Acharya in Bengaluru; Editing by Ramakrishnan M.)
