Reliance Open to Offload 30% Stake in Jio

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Mukesh Ambani owned Reliance Industries Ltd (RIL) is open to offloading up to 30% stake in its telecom venture, Reliance Jio, to a global strategic partner, Business Standard reports.

The report said that the stake offload would allow Reliance to unlock the value. The stake sale will be done only after the telecom company has acquired a sizeable customer base, the reprot added.

“As of now, stake sale might not fetch good valuation. But once the company is up and running and consumers get first-hand experience of world-class services, the valuations will get better,” the company insiders told the publication. Original post at ET Telecom

Wahengbam Rorrkychand

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