CCI clears Google buying 7.7% stake in Jio

In July, it was announced that Google has agreed to invest ₹33,737 crore to buy a 7.7% stake in Reliance Industries' technology venture.

Commission approves acquisition of 7.73% equity share capital of Jio Platforms by Google," the watchdog said in a tweet. (MINT_PRINT)

The Competition Commission of India (CCI) on Wednesday said it has approved internet major Google's proposed purchase of 7.73% stake in Jio Platforms.

In July, it was announced that Google has agreed to invest ₹33,737 crore to buy a 7.7% stake in Reliance Industries' technology venture.

"Commission approves acquisition of 7.73% equity share capital of Jio Platforms by Google," the watchdog said in a tweet.

Deals beyond a certain threshold require approval from the CCI, which keeps a tab on unfair business practices across sectors.