The Competition Commission of India on Wednesday approved Facebook picking up a 9.99% stake in Jio Platforms. Facebook is executing the US$5.7 billion (Rs 43,574 crore) transaction through Jaadhu Holdings LLC, a subsidiary registered in Delaware. CCI said that it would release its full order later. This month, the company crossed ₹1 trillion in investments, and has now accumulated ₹115,693.95 crore (US$15.19 billion) in investments. These are now all of Jio Platforms’s investors: Investor [Stake%] Amount (₹) Facebook [9.9%] 43,574 crore (US$5.7 billion) Silver Lake (1, 2) [2.08%] 10,202.55 crore (US$1.34 billion) Vista [2.32%] 11,367 crore (US$1.5 billion) General Atlantic [1.34%] 6,598.38 crore (US$870 million) KKR & Co. Ltd. [2.32%] 11,367 crore (US$1.5 billion) Mubadala [1.85%] 9,093.60 crore (US$1.2 billion) Abu Dhabi Investment Authority [1.16%] 5,683 crore (US$747 million) TPG Capital [0.93%] 4,546.80 crore (US$600 million) L Catterton [0.39%] 1,894.50 crore (US$250 million) Public Investment Fund [2.32%] 11,367 crore (US$1.5 billion) In its earnings call for Q4FY20 on April 30, RIL had said that investments similar to size in Facebook were going to follow in the coming months. A key part of Jio Platforms, in addition to the Jio network, is JioMart, the grocery home delivery service that will be closely integrated with Facebook’s WhatsApp, which 400 million people have installed in India. Increased focus on telecom and B2C: Reliance is preparing to sell off a significant oil and petrochemicals wing, worth tens of billions of dollars. Now that telecom and home delivery are among the few industries which are likely to survive the throes of this pandemic, the company’s focus on telecom is likely to…
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