Mergers & Antitrust Law News

Google, Jio to Build Cheap Phones in $4.5 Billion India Alliance

July 15, 2020, 10:27 AM

Google struck a broad alliance with Mukesh Ambani’s Reliance Industries Ltd., agreeing to invest $4.5 billion and to cooperate on technology initiatives including the development of affordable mobile phones.

The global search leader is buying 7.7% of Reliance’s digital services arm for 337.4 billion rupees, the Reliance chairman said Wednesday, confirming an earlier Bloomberg News report. Asia’s richest person was joined by Google Chief Executive Officer Sundar Pichai by video, a show of support for the billionaire’s efforts to build an online giant atop its nearly 400 million users in India.

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