In April, US social media major Facebook has invested Rs. 43,574 crore (USD 5.7 billion) into Jio Platforms, a unit of Reliance Industries for a 9.99% stake. Shardul Amarchand Mangaldas acted for Facebook and filed the CCI filing and received the CCI approval for this investment.
The Competition Commission of India has today given its approval for Jio facebook deal to the acquisition of a 9.99% stake in Jio Platforms by Jaadhu Holdings LLC (Facebook).
SAM team was led by Partners Raghubir Menon, Sakshi Mehra and Natashaa Shroff along with Principal Associate Deep Rekha and Senior Associate Srishti Maheshwari for jio facebook deal. AZB & Partners and Davis Polk & Wardwell advised Reliance Industries. AZB team was lead by Partners Ashwath Rau and Nilanjana Singh.
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