According to reports, Facebook is considering buying its way into the Indian telecommunications market. They are supposedly close to a deal for 10% of Reliance Jio, although current coronavirus-related travel issues are slowing things down.
They aren’t the only US-based tech giant taking aim at Jio, as Google and Microsoft have also been courting the carrier’s favor. Headed by billionaire protagonist Mukesh Ambani, Jio has spent the last few years disrupting the Indian telecommunications marketplace and just seems to be getting stronger.
It does make some sense for the likes of Facebook, of course. India has been a tough nut for global tech to crack, and its telecom space has been like a tar pit for outside investors. But it’s a huge market, so you need to get a share of the pie somehow. So you just cozy up to whomever seems to have the inside track and let them worry about the details.
That doesn’t mean it won’t come back and bite them on the ass later of course.
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Categories: Mergers and Acquisitions
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