On Wednesday, the Competition Commission of India (CCI) approved the acquisition of a 9.99% stake in Jio Platforms by Jaadhu Holdings LLC, an indirect wholly-owned subsidiary of Facebook.
Jaadhu is a newly incorporated company formed in March under the laws of the State of Delaware, United States.
Jio Platforms is a subsidiary of RIL. Jio Platforms owns (directly or indirectly) & operates digital applications, & holds controlling investments in certain technology-related entities.
Jio Platforms also holds 100% of the issued & outstanding share capital of Reliance JioInfocomm Limited (RJIL).
Reliance JioInfocomm Limited provides telecommunications services to users across the country.
A detailed order of the Competition Commission of India will follow.
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