Beijing time on the afternoon of May 28, according tomedia reports, Microsoft is considering a $2 billion stake in Jio Platforms, once the deal is completed, Microsoft will receive jio Platforms about 2.5% of the shares. Jio Platforms is a digital services company from India that is part of Reliance Industries.
Founded in 2019, Jio Platforms is an umbrella organization for all digital and telecommunications projects owned by Reliance Industries. Reliance Industries, India’s largest mobile network operator, is home to jio, and has a number of other digital services.
While some media believe that Microsoft’s investment may not be a reality, Jio Platforms has attracted a lot of investors’ attention recently. In the past month, Jio Platforms has taken $10 billion worth of investmentfrom investors such as Facebook, KKR and Co, Silver Lake, Vista Equity Partners and General Atlantic.
Overseas investors are flocking to Jio Platforms as a means of entering India’s expanding digital market. Mukesh Ambani, chairman, managing director and largest shareholder of Reliance Industries, is preparing for an initial public offering outside India by Jio Platforms, Bloomberg reported.
Microsoft has established a partnership with Reliance Jio. Last August, Reliance Industries announced a 10-year partnership agreement with Microsoft Azure. As part of the partnership, Jio will build data centers across India that will host on Microsoft Azure’s cloud.
Reliance Jio, which was founded four years ago, is competing with Bharti Airtel and Vodafone Idea to win more Mobile Users in India.