Ministry of Corporate Affairs
CCI approves acquisition of 7.73% equity share capital of Jio Platforms Limited (JPL) by Google International LLC (GIL)
The Competition Commission of India (CCI) approves the acquisition of 7.73% equity share capital of Jio Platforms Limited (JPL) by Google International LLC (GIL) under Section 31(1) of the Competition Act, 2002.
GIL is a wholly-owned subsidiary of Google LLC(collectively with all Google LLC subsidiaries, Google). 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/operate any of Google’s products/ services.
JPL is a subsidiary of Reliance Industries Limited, which holds the majority of its issued equity share capital. JPL along with its subsidiaries primarily offers / will offer digital products/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.
Detailed order of the Commission will follow.
Source: Posted On: 12 NOV 2020 10:04AM by PIB Delhi
Jio Platforms limited (JPL) is an Indian Technology company. It is incorporated on 15 November 2019. It is classified as a Non-govt company and is registered at Registrar of Companies, Ahmedabad.
Google, LLC is an American multinational technology company that specializes in Internet-related services and products, which include online advertising technologies, a search engine, cloud computing, software, and hardware. It is considered one of the Big Five technology companies in the U.S. information technology industry, alongside Amazon, Facebook, Apple, and Microsoft. Source: https://en.wikipedia.org/wiki/Google
Google was founded in September 1998 by Larry Page and Sergey Brin while they were Ph.D. students at Stanford University in California. Together they own about 14 percent of its shares and control 56 percent of the stockholder voting power through supervoting stock. They incorporated Google as a California privately held company on September 4, 1998, in California. Google was then reincorporated in Delaware on October 22, 2002. Source: https://en.wikipedia.org/wiki/Google
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