Abu Dhabi Investment Authority Invests $1.2 Bn in Reliance Jio to Further Mutual Digital Capabilities
Reliance Jio set to witness a whopping investment from Abu Dhabi Investment Authority (ADIA) amounting to over $1.2 Bn post the sale of its equity sale worth 1.16%. The development has positioned Abu Dhabi Investment Authority at the seventh position, simultaneously allowing Reliance Jio’s equity to spring up at a coveted high. Like Mubadala Investment Co, ADIA is the next big influential concern to be investing in Reliance Jio as just last week’s investment from Mubadala Investment Co pushing the Indian telecom’s stake to over 1.85%. In the words of Mukesh Ambani, MD Jio Platforms, the company is overwhelmed to have entered into a fresh partnership with Abu Dhabi based business concerns, thus offering the company rife growth opportunities, allowing the company to set new business development strategies for mutual benefits in digital presence.
Mubadala Investment has other significant business partnerships comprise Shell & Petronas, Rolls-Royce, Airbus, Boeing, Total, The Carlyle Group and the like. Mubadala Investment in Jio makes it the sixth largest investment. The Abu Dhabi concern boats of over $229 billion assets across diverse businesses stretched over 50 countries.
Further, Khaldoon Al Mubarak, MD and CEO, Mubadala Investment Company states that the company thoroughly rests complete faith in Jio’s digital capabilities as the company has visibly transformed the face of digital connectivity in India. Mubaladala INvestment Company is hopeful of witnessing some sweeping transformations on the back of the company’s highly competitive technological assets comprising broadband connectivity, AI. IoT, big data analytics, edge computing cloud compatibility as well as blockchain and augmented and mixed reality. The development is also likely to pave some novel opportunities for several SMEs in the near future. ABIA is a UAE based independent wealth fund of ABu Dhabi. Besides this pivotal investment, Reliance Jio also has several other big names on its list of clientele comprising Facebook, Vista, Silver Lake and several others.