How Mukesh Ambani-led Reliance Industries is on a mission to prove the above statement right by stringing together its “pearls”—investments into apparently unrelated sectors.
Facebook’s $5.7-billion investment in RIL’s subsidiary will help both companies monetise their digital platforms; it will also aid in deleveraging RIL’s balance sheet, says Fitch Ratings.
The mega deal will help RIL deleverage and expand its new commerce initiative, while giving Facebook, Instagram, and WhatsApp access to Jio’s 388 million users.
According to a Jefferies research report, at an estimated valuation of $65 billion-$70 billion, the newly formed Jio Platform’s EV/Ebitda multiple could be ahead of Alibaba, Alphabet, and Apple.
