The Indian Competition Authority clears acquisition by a Big Tech company of a minority shareholding in its commercial partner for new low-cost smartphones (Google / Jio Platforms)

The CCI cleared the acquisition by Google International LLC (Google) of approximately 7.73% of the equity share capital in Jio Platforms Limited (Jio Platforms), a subsidiary of Reliance Industries Limited (RIL). Google group entities also entered into a commercial agreement with Jio Platforms to collaborate and develop new low- cost smartphones and a customised operating system for such devices. In making its