Social media giant has pumped in $5.7 billion (more than AED 20 billion) for 9.99 per cent stake in the digital arm of India's Reliance Industries.
The deal makes Facebook the largest minority shareholder in the Indian telecom network.
Facebook said the investment marks its “commitment to India”, with plans to link WhatsApp and Reliance's e-commerce venture JioMart.
"In the near future JioMart... and WhatsApp will empower nearly 30 million small Indian kirana (local) shops to digitally transact with every customer in their neighborhood," Mukesh Ambani, Reliance's billionaire CEO said in a video statement.
Disney's Pixar names Jonathan Garson president as Jim Morris steps back
DIP Holding places final IPO price
Gulfood Manufacturing brings global industry leaders to Dubai
ADNOC Gas signs five-year LNG supply agreement with TotalEnergies
