Private-equity firm Silver Lake has struck a deal to invest $750 million in Indian telecom and technology giant Jio Platforms, less than two weeks after Facebook said it would pay $5.7 billion for a holding of about 10 percent in the company.
Silver Lake’s investment values Jio at $65 billion, about 12.5 percent more than the valuation implied by Facebook's recent deal.
The pair of investments caps off a stunning ascent for the Indian telecom and digital services insurgent. Jio Platforms was launched by India's largest conglomerate, Reliance Industries, in late 2016.
Based in Mumbai, Reliance Industries is controlled by India's richest man, Mukesh Ambani. Thanks to heavy discounting and lavish spending on marketing, the firm has become a.