Deals
Ambani’s Jio Adds Intel Backing With $253 Million Stake Sale
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The technology venture of billionaire Mukesh Ambani secured 18.95 billion rupees ($253 million) from Intel Capital, adding to a slew of investments since April that have reached more than $15 billion.
The investment arm of computer chip giant Intel Corp. agreed to buy a 0.39% stake in Jio Platforms Ltd., giving the business an equity value of $65 billion, Ambani’s conglomerate Reliance Industries Ltd. said in a statement Friday.