Campaign India Team
Jul 16, 2020

Official: Google to invest US$4.5 billion in Reliance Industries

Mukesh Ambani made the announcement during Reliance Industries' AGM.

Source: YouTube
Source: YouTube
A day after media reports suggested that Google will be acquiring a stake in Reliance Industries, Mukesh Ambani, chairman and MD, Reliance Industries, confirmed the news during an annual general meeting.
 
Google will be investing US$4.5 billion to get a 7.7% stake in Jio Platforms. The transaction is subject to regulatory and other customary approvals.
 
Earlier this week Google's CEO Sundar Pichai had announced that the company is looking to invest up to $10 billion in India in the next five to seven years. 
 
Reliance has now raised $20.3 billion in Jio Platforms in the last few months. 
 
 
 
 
Source:
Campaign India

Related Articles

Just Published

14 hours ago

Agency Report Card 2024: Dentsu Media

Dentsu Media navigated a turbulent 2024, marked by financial pressures, leadership instability, and structural reorganisation, even as it pushed forward with AI investments and selective market successes.

14 hours ago

Agency Report Cards 2024: We grade 25 APAC networks

The grades are in for Campaign Asia's 22nd annual evaluation of APAC agency networks. Subscribe to read our detailed analyses.

16 hours ago

Google enhances ads portfolio with new AI-powered ...

The tech giant unveiled a series of updates to Google Ads, analytics and search, including launching agentic AI tools.