Saudi Arabia, Abu Dhabi Funds Close To Backing Jio Fibre Assets In Mega Deals
Sovereign wealth funds Public Investment Fund (PIF) from Saudi Arabia and UAE’s Abu Dhabi Investment Authority (ADIA) are reportedly in talks with Reliance Industries (RIL) to invest as much as $1 Bn each in Jio’s Fibre assets.
The investment would monetise Reliance’s fibre optic assets, which are held by Jio Digital Fiber. With over 700K Km of fibre optics across India, Reliance Jio Digital Fiber is one of the largest networks with plans to expand capacity to 1.1 Mn Km.
According to earlier media reports, the sovereign wealth fund Qatar Investment Authority may also invest $1.5 Bn in Reliance’s Jio Fibre assets. Neither Reliance nor any of the prospective investors have officially commented on the deals at this moment.