State of economy deeply worrying: Manmohan Singh

May 9: Two more companies are said to be eyeing stakes in Reliance Jio Platforms, the $65-billion digital unit of Mukesh Ambani-controlled Reliance Industries, suggests a Bloomberg report. If these deals materialise, they would add to a growing list of firms that have recently invested in the Indian company.

US private equity firm General Atlantic was considering investing about $850 million to $950 million in the Mumbai-based company, a Bloomberg report said, citing people with knowledge of the matter.

The deal could be completed as soon as this month, though no agreement had been finalised and plans may change, it added.

Saudi Arabia's Public Investment Fund (PIF) is also considering to buy a minority stake in Jio, Bloomberg said in a separate report.

General Atlantic declined to comment on the report, while Jio and PIF did not immediately respond to Reuters request for comment. Hours earlier on Friday, Reliance Industries announced a $1.5 billion stake sale in Jio to Vista Equity Partners, the third deal in just over two weeks.

The conglomerate cut a $5.7 billion deal with Facebook for a 9.99 per cent stake in Jio on April 22 and a few days later, it secured a $750 million investment from private equity firm Silver Lake.

Together the three deals will inject a combined $8 billion in the telecoms-to-energy group and help it pare its debt.

Vista's investment gave Jio an equity value of Rs 4.91 trillion ($65 billion) and an enterprise value of Rs 5.16 trillion, said Reliance, controlled by billionaire tycoon Mukesh Ambani.

The potential investments from New York-based General Atlantic and the Saudi sovereign wealth fund, which manages over $300 billion in assets, would inject money on top of the $8 billion which Jio has already raised.

Saudi's PIF has been buying minority stakes several companies. Last month, it disclosed an 8.2 per cent stake in coronavirus-hit Carnival Corp, sending the cruise operator's shares up nearly 30 per cent higher.

New Delhi, May 15: Microsoft founder Bill Gates on Friday thanked Prime Minister Narendra Modi for the interaction and stressed that combating the coronavirus pandemic requires global collaboration.

"Thank you for the conversation and partnership PM Narendra Modi. Combating the pandemic requires global collaboration. India's role is key as the world works to minimize social and economic impact, and pave the way to vaccine, testing, and treatment access for all," Bill Gates said.

Prime Minister Narendra Modi on Thursday interacted with philanthropist and Microsoft co-founder Bill Gates and discussed the global response to Covid-19 and the importance of global coordination on scientific innovation to combat the pandemic.

The Prime Minister underlined the conscious approach that India has adopted in its fight against the health crisis - an approach based on ensuring public engagement through appropriate messaging, a PMO release said.

He explained how this people-centric bottom-up approach has helped win acceptability for physical distancing, respect for frontline workers, wearing of masks, maintaining proper hygiene, and respecting lockdown provisions.

They agreed that given India's willingness and capacity to contribute to global efforts, particularly for benefit of fellow developing countries, it was important for India to be included in the ongoing global discussions for coordinating responses to the pandemic.

The Prime Minister also suggested that the Gates Foundation could take the lead in analyzing the necessary changes in lifestyles, economic organisation, social behaviour, modes of disseminating education and healthcare, that would emerge in the post-Covid world, and the associated technological challenges that would need to be addressed.

He said that India would be happy to contribute to such an analytical exercise based on its own experiences.