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The Competition Commission of India (CCI) has approved the acquisition of 7.73 per cent equity share capital of Jio Platforms Ltd (JPL) by Google International LLC (GIL) under Section 31(1) of the Competition Act, 2002, a Ministry of Corporate Affairs release said on Thursday.
GIL is a wholly-owned subsidiary of Google LLC. Google LLC is a Delaware limited liability company and a wholly-owned subsidiary of Alphabet Inc. GIL is a holding company and does not own or operate any of Google’s products and services.
JPL is a subsidiary of Reliance Industries Ltd, which holds the majority of its issued equity share capital. JPL along with its subsidiaries primarily offers or will offer digital products and services, including wireless, home broadband and enterprise broadband services, telecommunication services, mobile applications, various digital platforms, back-end technology services for e-commerce entities and other miscellaneous software and technology-related services.