Qualcomm Ventures, the investment arm of Qualcomm Incorporated, will invest Rs 730 crore in Jio Platforms for a 0.15 % stake, the companies said in a joint statement on Sunday.
This is the 12th investor to pick up a stake in Reliance Industries Ltd’ (RIL NSE 2.95 %’s) telecom and digital business in less than two months. Qualcomm Ventures' stake buy will take the total investments in Jio Platforms to Rs 1,18,318.45 crore for a combined 25.24 % holding.
" Qualcomm has been a valued partner for several years and we have a shared vision of connecting everything by building a robust and secure wireless and digital network and extending the benefits of digital connectivity to everyone in India," said Mukesh Ambani, chairman and managing director for Reliance Industries. "As a world leader in wireless technologies, Qualcomm offers deep technology know how and insights that will help us deliver on our 5G vision and the digital transformation of India for both people and enterprises.” he added.
Source : - https://economictimes.indiatimes.co...rms-for-a-0-15-stake/articleshow/76927277.cms