News > Jio: CCI approves Google picking up 7.73% stake in Jio Platforms

Jio: CCI approves Google picking up 7.73% stake in Jio Platforms

CCI has approved Google picking up 7.73 per cent stake in Jio Platforms for Rs 33,737 crore, clearing the way for the internet giant to jointly develop entry-level Android smartphones. The nod comes at a time when there is intense scrutiny over the impact of global firms including Google on smaller companies.

Google will be making the investment into the digital arm of Reliance Industries through its wholly-owned subsidiary, Google International LLC (GIL).