Quick Summary
The Competition Commission of India (CCI) approves acquisition of 9.99% stake in Jio Platforms by Jaadhu Holdings LLC. The proposed combination envisages acquisition of approximately 9.99% stake inJio Platforms Limited (Jio Platforms)by Jaadhu Holdings LLC (Jaadhu). Jaadhu is an indirect wholly owned subsidiary of Facebook. Jaadhu is a newly incorporated company formed in March 2020 under the laws of the State of Delaware, United States. Facebook is a publicly traded company listed on NASDAQ,
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FAQ :
Jaadhu Holdings LLC, an indirect wholly owned subsidiary of Facebook, is acquiring a stake in Jio Platforms.
Approximately 9.99% of Jio Platforms is being acquired.
The Competition Commission of India (CCI) has approved the acquisition.
Jaadhu Holdings LLC is an indirect, wholly owned subsidiary of Facebook.
Jio Platforms operates digital applications, holds investments in technology entities, and its subsidiary Reliance JioInfocomm Limited is a licensed telecommunications operator.
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