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CCI Approves Facebook's 9.99% Stake Buy in Jio Platforms

Facebook CEO Mark Zuckerberg (L) and RIL chairman Mukesh Ambani released video statements on the Facebook-Jio deal.

Facebook CEO Mark Zuckerberg (L) and RIL chairman Mukesh Ambani released video statements on the Facebook-Jio deal.

In April, Facebook announced an investment of $5.7 billion (Rs 43,574 crore) in Jio Platforms. The acquisition was to be done through Jaadhu Holdings LLC.

The Competition Commission of India (CCI) on Wednesday said it has approved Facebook's proposed acquisition of 9.99% stake in Jio Platforms.

In April, Facebook announced an investment of $5.7 billion (Rs 43,574 crore) in Jio Platforms. The acquisition was to be done through Jaadhu Holdings LLC.

In a tweet, the CCI said it has approved "acquisition of 9.99% stake in Jio Platforms by Jaadhu Holdings LLC".

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