MTN Group will look for minority investors in its African fintech unit after separating the division from its traditional telecommunications business.
Browsing: Jio Platforms
A $20-billion fund-raising spree may take India’s Reliance closer to its dream of becoming a digital giant, further threatening the plans of US companies such as Amazon.com, Walmart and Zoom.
Google has agreed to buy a $4.5-billion stake in Jio Platforms, the digital arm of Reliance Industries, adding to a series of large investments from the US into the online venture.
Zoom, one of the few success stories of the Covid-19 pandemic, now faces a new competitor in an app backed by Asia’s wealthiest person Mukesh Ambani.
Intel’s investment arm will pay some $255-million for a small stake in Reliance Industries’ digital unit Jio Platforms, the latest in a slew of share sales that have helped the Indian conglomerate pay down debt.