CCI approves acquisition of 9.99% stake in Jio Platforms by Jaadhu Holdings LLC
The Competition Commission of India has approved the acquisition of a 9.99% stake in Jio Platforms by Jaadhu Holdings LLC. Jaadhu is an indirect wholly-owned subsidiary of Facebook.
It is a newly incorporated company formed in March this year under the laws of the State of Delaware in the United States. Whereas, Jio Platforms is a company organized and existing under the laws of India, and is a subsidiary of Reliance India Limited.