(Reuters) - Saudi Arabia's sovereign wealth fund is considering to buy a minority stake in Reliance Industries' digital unit Jio Platforms, Bloomberg News reported bloom.bg/35Hds3i on Friday.
The potential investment from Saudi’s Public Investment Fund (PIF), which manages over $300 billion in assets, would inject money on top of the $8 billion which Jio has already raised in three deals over the past weeks.
Earlier in the day, private equity firm Vista Equity Partners said it was buying a 2.3% stake in Jio for 113.67 billion rupees($1.5 billion).
Reliance had cut a $5.7 billion deal with Facebook for a 9.99% stake in Jio Platforms on April 22 and a few days later, it secured a $750 million investment from private equity firm Silver Lake.
Jio and PIF did not immediately respond to Reuters’ request for comment.
Reporting by Shubham Kalia in Bengaluru; Editing by Ramakrishnan M.