Google invests $4.5 billion in India’s Reliance Jio Platforms

Google has become the latest high-profile investor in India’s

Reliance Jio

Platforms. The search giant is investing $4.5 billion for a 7.7% stake in the top Indian telecom network, Reliance Jio Platforms chairman Mukesh Ambani said on Wednesday.

The investment today from Google is one of the rare instances where the Android-maker has joined Facebook in backing a firm. Facebook invested $5.7 billion in Reliance Jio Platforms, which has amassed over 400 million subscribers, in April this year.

Jio Platforms, a subsidiary of

Reliance Industries

(India’s most valued firm) has raised over $20.6 billion in the past four months from 13 investors by selling about 33% stake in the firm.

More to follow…