2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which company will acquire 9.9 per cent stake in Jio Platforms via a new entity Jaadhu Holdings LLC, which was announced in April 2020 with an investment of $ 5.7 billion (Rs 43, 574 crore)?
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Google
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Amazon
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Facebook
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Netflix
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Explanation:
Detailed explanation-1: -Facebook picked 9.99 per cent stake in Jio Platforms at an enterprise value of Rs 4.62 trillion. “Jio Platforms Limited has allotted equity shares to Jaadhu Holdings following which Jaadhu Holdings holds 9.99 per cent of the fully diluted equity share capital of Jio Platforms Limited, ” the filing said.
Detailed explanation-2: -Reliance Industries chairman Mukesh Ambani today credited the record foreign direct investment (FDI) in India during the Covid pandemic to Facebook’s announcement in April to invest $5.7 billion (over Rs 43, 574 crore) in the Jio Platforms.
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