(Bloomberg) — Facebook Inc. will invest $5.7 billion in the digital assets controlled by India’s richest man, the U.S. social-networking giant’s biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market.The U.S. company will buy about 10% of Jio Platforms, becoming the largest minority shareholder, Reliance Industries Ltd. said in a statement Wednesday. Separately, Facebook said the deal would bring together JioMart, an ecommerce venture of Mukesh Ambani and its WhatsApp platform to enable people to connect with businesses.Shares of Reliance Industries jumped as much as 12% on Wednesday in Mumbai, …read more
Source:: Yahoo Finance
