Report: Facebook in talks to buy stake in Indian telecom company Reliance Jio
Mark Zuckerberg attending the 56th Munich Security Conference in Germany on Feb. 15. Photo: Abdulhamid Hosbas/Anadolu Agency via Getty Images
Facebook is said to be in talks to buy a 10% stake in Indian telecom operator Reliance Jio, according to the Financial Times.
Why it matters: Facebook has long sought to invest in big markets where internet connectivity is sparse, expensive, or both — figuring that a boost in internet usage will result in more users. Its last approach, subsidizing free use of Facebook, was poorly received in India. This would appear to be a different means to achieve the same end.
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