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Saudi’s PIF looks to invest $1 billion in Jio’s fibre assets: Report

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Saudi Arabia’s Public Investment Fund (PIF) is in discussions with Reliance Industries to invest around $1 billion in Jio’s fibre assets, according to the Economic Times. PIF initiated the discussions after the Abu Dhabi Investment Authority (ADIA) re-engaged with Jio on a plan to invest about $1 billion in its pan-India fibre assets, the report said. It added that the talks may not necessarily culminate into a deal. The equity value of Jio’s fibre backbone is estimated to be around $8 billion, excluding liabilities, as per the report. Revenue streams from sales generated by third parties using the network are reportedly being finalised. The report said that half of Jio’s fibre capacity was to be used by its subscribers, while the remaining half by third-party users. PIF recently invested Rs 11,367 crore in Jio Platforms, as the telco attracted a…

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