Google buys 7.7% of Reliance's digital unit for $4.5 bln

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India's Reliance Industries on Wednesday said Alphabet Inc's Google will buy a 7.7% stake in its digital unit for $4.5 billion, winning the backing of another U.S. tech giant after Facebook Inc in late April.

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A woman walks past the logo of Google during an event in New Delhi, India, August 28, 2018. Picture taken August 28, 2018. REUTERS/Adnan Abidi

With Google’s investment, strategic and financial investors have committed a total of 1.52 trillion rupees in the last few months, Reliance chairman and billionaire tycoon Mukesh Ambani said at the company’s annual shareholders meeting hosted via a webcast. The unit houses music and movie apps but its mainstay is telecoms firm Jio Infocomm - India’s largest mobile carrier with more than 387 million users.

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