New Street: Indian Mobile: Thoughts on potential Facebook investment in Jio
The FT reports Facebook is in negotiations with Jio to acquire a 10% stake. We think this likely reflects the importance of India to FB (now their biggest market by customers) and desire for a strong local partner to help navigate what is an increasingly high risk market from a regulatory/judicial perspective.
Idea Cellular provides Global System for Mobile Communications (GSM) based mobile services and related telephony services to individuals and businesses in India. The company operates through three segments: Mobility Services, which provides GSM based mobile and related telephony services; International Long Distance (ILD), which provides international long distance services; and Passive Infrastructure, which provides passive infrastructure services. Co. offers 2G and 3G services that comprise roaming arrangements; ILD and other services; and a range of mobile broadband devices, including dongles and 3G smartphones that provide 3G applications and data services.
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