Here's why Facebook's Mark Zuckerberg is paying top dollar for a stake in Mukesh Ambani's Reliance Jio

Facebook has invested $5.7 billion for a 9.9% stake in Mukesh Ambani’s Reliance Jio which puts the pre-deal valuation at ₹4.4 lakh crore. The reason Mark Zuckerberg’s investment makes sense is because Jio is likely to be the fastest-growing segment for Reliance in the post-COVID world. It’s also a way for Facebook to gain an edge in the Indian market which has largely been a duopoly between Facebook and Google when it comes to digital solutions for over a decade — a duopoly that has come under pressure with ByteDance’s entry.Facebook announced that it has invested $5.7 billion for a 9.9% stake in Mukesh Ambani’s Reliance Jio platform — India’s largest telecom player by the number of subscribers ⁠— and in early trade, Reliance Industries (RIL) share price jumped up as much as 7.5%.This is because

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