Microsoft Corp is now in the talks of negotiating an investment of nearly $2 billion in Mukesh Ambani’s Jio Platforms Ltd, a Mint report quoted two people aware of the matter.
The source who spoke seeking anonymity said that Microsoft has been in discussions with several players in the digital payments services space. And with Reliance, the IT giant is looking at buying more tat 2.5% stake in Jio Platforms.
Well, it is imperative to note that if this deal is successful Microsoft will be a part of Jio Platforms that has already attracted investments worth $10 billion in one month. The investors include Facebook, Silver Lake, Vista Equity partners, General Atlantic, KKR &Co.
However, the second source close to the matter said that even though Microsoft has shown interest in Jio, they cannot gurantee if the investment deal will make through.
Apart from Microsoft, the corporate can also be rumored to be in talks with Saudi Arabia’s sovereign wealth fund for a minority stake sale. Jio Platforms could have raised near $12.5 billion as soon as all the offers are carried out and dusted. This will allow the telecom big, which has near 400 million subscribers in India, to significantly cut back its debt and transfer nearer to its objective of a internet debt-free future.
Reliance Jio, for these unaware, has expanded past the telecom enterprise and now presents a slew of different providers. This contains Jio Fiber, the lately launched JioMart, AJio on-line style retailer, Jio Cinema and TV, and nicely, LYF-branded smartphones as nicely.