Now, Microsoft eyes stake in Jio
Microsoft Corp. has been found negotiating an investment of almost $2 billion in billionaire Mukesh Ambani’s Jio Platforms Ltd, the digital init of India’s most advantageous company, mentioned two people aware of the discussions.
“Microsoft has been in discussions with several players in the digital payments services space. With Reliance, Microsoft is interested in buying a more than a 2.5% stake in Jio Platforms,” one of the two people cited above stated, seeking obscurity.
The world’s largest-precious company will get a piece of Jio Platforms that has already been found to lure investments worth $10 billion in just a month from marquee investors, comprising of Facebook Inc., KKR & Co., Silver Lake, Vista Equity Partners and General Atlantic.
All the while when Microsoft has shown a sheer interest in cementing its partnership with Jio Platforms by buying a stake in the company, there is absolutely no guarantee that the investment will go through, the second person mentioned, also requesting definite anonymity.
In February, Microsoft’s chief executive Satya Nadella pronounced that the company has forged a partnership with Reliance Jio. As part of the pact, Reliance Jio plans to establish data centres across the nation and utilise Microsoft Azure’s cloud services for enterprise clients.
While a Microsoft spokesperson proclaimed that the company does not “have any information to share here”, an email sent to Reliance Industries did not engender a reply.
Foreign investors are making a beeline for Jio Platforms as they plan to tap India’s burgeoning digital market. Jio Platforms blends all of Reliance’s digital and telecom initiatives with the inclusion of Jio digital services (mobile, broadband), apps, tech capabilities (artificial intelligence, Big Data, Internet of Things, etc.,) and other investments such as in Den Networks, Hathway Cable and Datacom Ltd.
The newest investment by KKR was declared on May 22nd. The buyout firm agreed to pay ₹11,367 crore for a 2.32% stake in Jio Platforms, in what would be KKR’s single most huge investment in Asia witnessed until now. The deals have fetched Jio Platforms an estimation of around ₹4.91 lakh crore.
Writer – Soumili roy.