The Competition Fee of India (CCI) on Wednesday claimed it has accredited internet major Google’s proposed order of 7.73 for each cent stake in Jio Platforms. In July, it was declared that Google has agreed to commit Rs 33,737 crore to invest in a 7.7 for every cent stake in the Reliance Industries’ technology enterprise.
“Fee approves acquisition of 7.73% equity share cash of Jio Platforms by Google,” the watchdog reported in a tweet.
Deals outside of a specified threshold need acceptance from the CCI, which keeps a tab on unfair business procedures throughout sectors.
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