Facebook’s $5.7bn bet on India’s richest man Mukesh Ambani

ByJerome Smith
facebook’s-$5.7bn-bet-on-india’s-richest-man-mukesh-ambani

https://www.bbc.co.uk/news/business-52377521

The logo of social media giant Facebook is seen on a screen of a phone next to a red illustration of world and financial markets.

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Facebook has said it is investing $5.7bn (£4.6bn) in cut-price Indian mobile internet company Reliance Jio, which is owned by the country’s richest person Mukesh Ambani.

The deal makes the social network the largest minority shareholder in the telecoms unit of Reliance Industries,

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