Intel latest to invest in Jio Platforms - Mobile World Live

Intel latest to invest in Jio Platforms

03 JUL 2020

Reliance Industries lined up Intel as the latest international investor in Jio Platforms, with the US company’s investment unit acquiring 0.39 per cent of the digital subsidiary for INR18.9 billion ($253.6 million).

The move continued a recent run of selling stakes in the business, bringing the total sold to 25.09 per cent for INR1.2 trillion and clearing Reliance Industries’ debt.

In a statement, Intel Capital president Wendell Brooks said Jio Platforms’ focus on applying its engineering capabilities to bring the power of low-cost digital services to India aligned with Intel’s purpose of delivering breakthrough technology which enriches lives.

“We believe digital access and data can transform business and society for the better. Through this investment, we are excited to help fuel digital transformation in India, where Intel maintains an important presence.”

Jio Platforms operates broadband and online commerce services, including mobile operator Reliance Jio.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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