Abu Dhabi-Based Mubadala Investment Company Eyes Stake In Jio Platforms
Boxes of Reliance Jio, the mobile network of Reliance Industries Ltd., sit on display in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Abu Dhabi-Based Mubadala Investment Company Eyes Stake In Jio Platforms

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Abu Dhabi-based sovereign investor Mubadala Investment Company is in discussions to invest in Reliance Industries Ltd.'s digital unit Jio Platforms, a source said.

Last week, Reliance Industries had announced sale of a 2.32% stake in its digital unit to the U.S.-based private equity giant KKR for Rs 11,367 crore, the fifth marquee deal over the past few weeks that will inject a combined Rs 78,562 crore in the oil-to-telecom conglomerate to help it pare debt.

The source said talks are on with Mubadala Investment Company for a possible stake sale in Jio Platforms, but did not divulge details.

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An e-mail sent to Reliance Jio for comments, and a separate query to Mubadala Investment Company did not elicit response.

Besides KKR, Jio Platforms has recently announced deals with leading technology investors including Facebook, Silver Lake Partners, Vista Equity Partners and General Atlantic.

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