Facebook's $5.7 Billion Jio Stake Approved by India Regulator (bloomberg.com) 7
India's antitrust regulator approved Facebook's purchase of a 9.99% stake in the digital services unit controlled by billionaire Mukesh Ambani, giving the social media giant another foothold in one of the world's fastest-growing online markets. From a report: The U.S.-based company will invest $5.7 billion in Jio Platforms through Jaadhu Holdings LLC, an indirect, wholly owned subsidiary of Facebook, according to a filing on the Competition Commission of India website. The clearance paves the way for a slew of smaller deals that take Jio's parent -- Reliance Industries Ltd. -- closer to its goal of becoming net debt free by March 2021 while using its roughly 400 million wireless phone subscribers as the cornerstone of an e-commerce and digital services business. Ambani's $65 billion digital unit has sold more than 20% in stakes to buyers including Facebook and U.S. private equity firms KKR, Silver Lake Partners and General Atlantic.
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Americans have no idea of corruption. They THINK they do, but when you look at how corrupt India is, America pales in comparison. Bribery is a part of everyday people's lives there. In America, it's more of a big business thing.
Men lie the most, but women tell the biggest lies.
India bribes the most, but America has the biggest bribes.
Same, same.
Re: Bribed (Score:1)
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heh, Chris Rock is hillarious. [youtube.com]
Man's lie, "I'm at Tony's house", or, "I'm at Kenny's house."
A woman's lie, "It's your baby."
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Now you have best of both worlds