Competition Commission of India Approves Facebook's Acquisition of 9.99% Stake in Jio Platforms

New Delhi, June 25: The Competition Commission of India (CCI) on Wednesday approved the acquisition of a 9.99 per cent stake in Jio Platforms by Jaadhu Holdings LLC, an indirect wholly-owned subsidiary of Facebook.

Jaadhu is a newly incorporated company formed in March under the laws of the State of Delaware, United States.

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Jio Platforms is a subsidiary of RIL. Jio Platforms owns (directly or indirectly) and operates digital applications, and holds controlling investments in certain technology-related entities.

Jio Platforms also holds 100 per cent of the issued and outstanding share capital of Reliance JioInfocomm Limited (RJIL).

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RJIL provides telecommunications services to users across the country.

A detailed order of the CCI will follow.

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