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Google buys $4.5 billion stake in India’s biggest mobile network

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Google buys $4.5 billion stake in India’s biggest mobile network

That was followed in early July by a $250 million investment by Intel Capital, the chip giant’s investment division, which picked up a 0.39 percent stake. Just a few days later, Qualcomm’s own financial division paid around $97 million for a 0.15 percent stake of Jio. Naturally, the focus there was on the use of…

Google buys $4.5 billion stake in India’s biggest mobile network

That was followed in early July by a $250 million investment by Intel Capital, the chip giant’s investment division, which picked up a 0.39 percent stake. Just a few days later, Qualcomm’s own financial division paid around $97 million for a 0.15 percent stake of Jio. Naturally, the focus there was on the use of cloud computing, 5G and other technologies that Intel and Qualcomm can help work with Jio on. 

Jio became India’s biggest mobile network, as well as offering other digital services, by spending big to offer reliable, low-cost service to millions of Indians. That left the company with significant debt, which these investments — as well as a chunk of cash from Saudi Arabia — has now paid off. Fortune believes that Jio’s head, Mukesh Ambani is preparing the company for an IPO in the hope of a blockbuster initial valuation. If that’s the case, then it may not take very long for these investments to start bearing significant fruit for the companies which made them. 

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