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Facebook deal to help Reliance monetise platforms, deleverage: Fitch

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NEW DELHI : Facebook Inc's USD 5.7 billion investment in Jio Platforms, subsidiary of Reliance Industries Ltd (RIL), will help to monetise the digital platforms of both companies and aid in deleveraging of RIL's balance sheet, Fitch Ratings said on Thursday.

Facebook's investment for a 9.99 per cent stake in Jio Platforms is the single-largest FDI in the Indian telecoms and technology sector.

Reliance Jio, the wireless market leader with around 390 million subscribers, is a subsidiary of Jio Platforms. At the same time, Reliance Retail, RIL's retail arm, has also partnered with Facebook's WhatsApp to allow RIL's e-commerce business users to use the WhatsApp platform.

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