Media News
Campaign India Team
Jul 16, 2020

Official: Google to invest US$4.5 billion in Reliance Industries

Mukesh Ambani made the announcement during Reliance Industries' AGM.

Source: YouTube
Source: YouTube
A day after media reports suggested that Google will be acquiring a stake in Reliance Industries, Mukesh Ambani, chairman and MD, Reliance Industries, confirmed the news during an annual general meeting.
 
Google will be investing US$4.5 billion to get a 7.7% stake in Jio Platforms. The transaction is subject to regulatory and other customary approvals.
 
Earlier this week Google's CEO Sundar Pichai had announced that the company is looking to invest up to $10 billion in India in the next five to seven years. 
 
Reliance has now raised $20.3 billion in Jio Platforms in the last few months. 
 
 
 
 
Source:
Campaign India

Follow us

Top news, insights and analysis every weekday

Sign up for Campaign Bulletins

Most Read

Mission possible: Four steps to make marketing teams more effective

1 Mission possible: Four steps to make marketing teams more effective

GroupM axes global agency CEO roles in major centralisation push

2 GroupM axes global agency CEO roles in major centralisation push

How Yandex advertising solutions help building a bridge between brands from APAC and the Russia-CIS market

3 How Yandex advertising solutions help building a bridge between brands from APAC and the Russia-CIS market

Chinese prosecutors seek lengthy prison sentences for former GroupM executives as scale of bribery allegations revealed

4 Chinese prosecutors seek lengthy prison sentences for former GroupM executives as scale of bribery allegations revealed

Omnicom and IPG chiefs visit UK to sell merger to staff and pitch consultants

5 Omnicom and IPG chiefs visit UK to sell merger to staff and pitch consultants

Publicis Groupe taps McCann exec Amit Sutha as Malaysia CEO

6 Publicis Groupe taps McCann exec Amit Sutha as Malaysia CEO

Lunar New Year goodies: APAC's Year of the Snake campaigns

7 Lunar New Year goodies: APAC's Year of the Snake campaigns

Moves and wins roundup: Week of January 20, 2025

8 Moves and wins roundup: Week of January 20, 2025

Mastercard's Raja Rajamannar: ‘Advertising as we know it is dead’

9 Mastercard's Raja Rajamannar: ‘Advertising as we know it is dead’

Fuji TV loses over 50 advertisers amid alleged sexual misconduct

10 Fuji TV loses over 50 advertisers amid alleged sexual misconduct

Related Articles

Google to invest US$10 billion in India over next five-seven years: Sundar Pichai
Jul 14, 2020
Campaign India Team

Google to invest US$10 billion in India over next ...

Facebook and Reliance Jio: the birth of a conglomerate
May 12, 2020
Ravi Ganesh

Facebook and Reliance Jio: the birth of a conglomerate

Googlies on Google: A curiosity-driven game for search
Oct 25, 2024
Campaign India Team

Googlies on Google: A curiosity-driven game for search

Asia-Pacific Power List 2020: Aditya Bhat, Reliance Jio
Jun 29, 2020
Staff Reporters

Asia-Pacific Power List 2020: Aditya Bhat, Reliance Jio

Just Published

Creative Minds: Jereek Espiritu pushes his ideas to the edge of madness
2 days ago
Staff Reporters

Creative Minds: Jereek Espiritu pushes his ideas to ...

An intervention by a computer repairman drove Jereek Espiritu away from a career flying helicopters to a world of creative leaps and flights of fancy.

UM launches Full Colour Media with a focus on brand-building and growth
2 days ago
Anup Oommen

UM launches Full Colour Media with a focus on ...

Full Colour Media is underpinned by a body of custom research conducted with more than 10,000 brands and with 5 million data points, culminating in a ‘Brand Patterns’ proprietary model designed to grow and differentiate brands.

Campaign Global Agency of the Year Awards 2024: Don't miss the February 18 deadline
2 days ago
Jennifer Small

Campaign Global Agency of the Year Awards 2024: ...

With the final entry deadline for Agency of the Year Global fast approaching, we speak to judges who share their views on the biggest opportunities and challenges for 2025, and what they hope to see in winning entries.

The 'laziest influencer' makes cleaning effortless—literally
2 days ago
Ad Nut

The 'laziest influencer' makes cleaning effortless—l...

S.C. Johnson's new mold-cleaning campaign features their least energetic spokesperson ever—a sloth whose main qualification is mastering the art of minimal effort.