Ahead of last week's announcement of Facebook
buying a 9.99 per cent stake in Jio Platforms, there were unconfirmed reports of the company being in parallel discussions with Google.
The potential interest, the company said, establishes “the attractiveness of Jio Platforms to the world and is a strong validation of RIL's capability to conceive large-scale disruptive greenfield businesses”.
“With strong visibility to these equity infusions, the board was informed that RIL is set to achieve net-zero debt status ahead of its own aggressive timeline,” the statement said.
is looking to replicate the success of WeChat
in China as multipurpose superapps — platforms with integrated chat functions, payment and financial services and online shopping — to take on Amazon and Flipkart in an e-commerce market that KPMG says is likely to grow to $200 billion by 2027.