CCI approves Facebook’s $5.7 billion deal with Jio Platforms

The CCI has approved Facebook’s deal to buy a 9.99 per cent stake in Jio Platforms through its subsidiary Jaadhu Holdings LLC, a new entity incorporated in Delaware in the US. In its submission to the CCI, Facebook and Jio Platforms had said that the proposed transaction does not alter the competitive landscape and that Facebook and Jio Platforms would continue to operate independently. Further, Jio Platforms, Facebook-owned WhatsApp, Inc. and Reliance Retail Limited have also entered into a separate commercial agreement.