#Saudi Wealth Fund Is Said to Explore Investment in Reliance Jio - Bloomberg

Saudi Wealth Fund Is Said to Explore Investment in Reliance Jio - Bloomberg:

Saudi Arabia’s $320 billion sovereign wealth fund is exploring a potential investment in Reliance Industries Ltd.’s digital unit, according to people with knowledge of the matter.

The Public Investment Fund is considering purchasing a minority stake in Jio Platforms, said the people, who asked not to be identified as the information is private. Deliberations are ongoing and might not lead to a transaction, the people said. 



Representatives for Reliance and PIF didn’t immediately respond to requests for comment.

 Any new investment into Jio Platforms will add to the $8 billion deal run that billionaire Mukesh Ambani has sealed in the past weeks. Facebook Inc. last month agreed to pay $5.7 billion for a 10% stake in the digital unit, while Silver Lake Partners and Vista Equity Partners this week said they would invest about $2.25 billion in total.