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India’s Jio Secures $1.5 Billion From Private Equity Firm

By
Shai Oster
· · Source: Reuters

India’s Jio Platform, the telecom and internet arm of Indian billionaire Mukesh Ambani’s Reliance Industries, sold a $1.5 billion stake to private equity firm Vista Equity Partners, coming soon after it sold stakes to Facebook and Silver Lake, another private equity firm. Jio transformed India by spending billions to offer cheap, high-speed cellular data to hundreds of millions of users. It also...

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