CCI clears Google-Jio Platforms deal worth Rs 337.37 billion

The Competition Commission of India has approved Google picking up a 7.73 per cent stake in Jio Platforms Limited (JPL) for Rs 337.37 billion. Google will be making the investment in RIL‘s digital arm through its wholly owned subsidiary Google International LLC. The proposed transaction enables Google and JPL to jointly develop entry-level Android smartphones.