Mukesh Ambani, president of Reliance Industries, is naturally happy with the announcement of another major company investment with Geo soon after Facebook.
#Mumbai: For Geo, it’s a double wham Mukesh Ambani’s telecommunications company has signed a mega deal with another US private equity firm less than two weeks after signing a big deal with Facebook. Facebook has already bought a 9.9 percent stake in Reliance Jio for Rs 43,584 million. Following that path, Silver Lake Partners (SLP), a US private equity firm, has announced an investment of Rs 5,755.75 crore in Geo.
Mukesh Ambani, president of Reliance Industries, is naturally happy with the announcement of another major company investment with Geo soon after Facebook. In a tweet, the RIL President thanked Silver Lake Partners for their investment in Geo. He said that this investment is very important to build a digital India. Silver Lake has a worldwide reputation in information technology. The work of building a digital India will be further accelerated by applying the SLP experience.
Mukesh Ambani says he is delighted to welcome Silver Lake as a valued partner to continue to grow and transform the Indian digital ecosystem. He adds, Reliance is pleased to harness the insights from its global technology relationships for the transformation of the Indian digital society. pic.twitter.com/96A6Tkr9sr
The world’s largest technology investment firm has bought a 1.15 percent stake in Geo with an investment of Rs 5,858 million. This is the first major SLP investment in India. Silver Lake Partners has previously partnered with several large companies, including Twitter, Alibaba, and Dell Technologies. Market experts believe that Silver Lake Partners’ investment with Geo in Corona’s situation is a big step.
