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Reliance Industries: India's Jio receives $ 5.4 billion for fiber optic expansion

The fiber-optic division of the mobile operator Jio has raised 397.1 billion rupees (5.4 billion US dollars) for the network expansion through bonds and the sale of shares in investment companies. The trust, in which the fiberglass values ​​of Indian billionaire Mukesh Ambani are summarized, announced in a mandatory announcement for the Securities and Exchange Board of India. Reliance Industries will hold 48.4 percent of Jio Digital Fiber after the sale.

  1. SFC Energy AG, Brunnthal near Munich
  2. Winkelmann Group GmbH + Co. KG, Ahlen

Ambani’s Reliance Industries group had held talks with foreign funds in the capital, as local media had previously reported. Ambani, 63, has expanded his oil-focused conglomerate to include telecommunications, technology and retail. The group owns a network of 1.1 million km of fiber optic cable in India that penetrates more than 1,600 Indian cities.

Jio makes money by selling shares

Jio Platforms include a nationwide LTE network or the streaming service JioCinema, linear television with JioTV, music streaming with JioSaavn or grocery deliveries with JioMart. The division received more than $ 20 billion this year through sales of 33 percent of shares to investors such as Facebook and Google.

Jio's LTE cellular network has 400 million users, making it India's number one. Brookfield is investing $ 3.7 billion in Reliance cellular towers. Jio is planning the 5G expansion with OpenRAN. The LTE network has already been set up with cloud and software-based technologies with the participation of Cisco. Tareq Amin, one of the key executives involved in this project, is now Chief Technology Officer of Rakuten Mobile in Japan, which is also building a 5G Open RAN network.

Ambani also started selling shares in his retail chain. KKR & Co., Silver Lake and General Atlantic, and Mubadala invested more than $ 3 billion in the business.