# Facebook acquires 9.99% stake in Reliance Jio
The social media platform & US tech titan Facebook has acquired a 9.99% stake Reliance Jio i.e. the telecom arm of Reliance Industries Ltd (RIL). Facebook has bought the 9.99% stakes for USD 5.7 billion (about Rs 43,574 crore). This deal of USD 5.7 billion has put the pre-money enterprise value of Jio Platforms at Rs 4.62 lakh crore. Jio Platform is the parent of phone and data unit Reliance Jio Infocomm including various other digital app platforms like JioMart, Jio-Saavn and JioCinema.
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