Ambani’s Jio sells $873m stake as e-commerce drive attracts General Atlantic
18 May 2020 - 18:46
Mumbai — Billionaire Mukesh Ambani extended his fundraising streak for Jio Platforms by selling an $873m stake to General Atlantic, an early investor in Airbnb and Uber Technologies.
The US-based private equity fund’s agreement to take a 1.3% stake sets an enterprise value of 5.16-trillion rupees ($68bn) for the digital services business of Ambani’s Reliance Industries, the Mumbai-based company said...
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