Reliance Jio seems to have attracted the attention of Facebook; FB to acquire stake in Jio
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Reliance Jio is a 3 and half-year-old subsidiary of reliance Industries, which has caught social media giant Facebook's attention. Facebook is in talks to acquire a 10% stake in the Indian telecom operator. Bernstein analysts have valued Jio at over $60 billion. Reliance Jio owns a suite of services like JioSaavn, JioMart, JioTV and JioPay. Facebook and Jio both declined to comment on the acquisition deal.