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New Update
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BY A STAFF REPORTER
Shares of Reliance Industries may gain due to report that the company is in discussions to pick up a stake in Bengaluru-based mobile content provider Glance InMobi Pte Ltd for $300 mln.
This comes at a time when RIL is planning to launch its smartphones during the Diwali shopping season end-October. Its arm Reliance Jio Infocomm had delayed the launch, which was slated for the eve of Ganesh Chaturthi, due to chip shortage.
The deal will also give RIL strategic entry into the highly in-demand short-video content where the number of users is skyrocketing.
The transaction could be completed as soon as in the next few weeks which may involve strategic co-operation, news agency Bloomberg reported.
This comes at a time when RIL is planning to launch its smartphones during the Diwali shopping season end-October. Its arm Reliance Jio Infocomm had delayed the launch, which was slated for the eve of Ganesh Chaturthi, due to chip shortage.
The deal will also give RIL strategic entry into the highly in-demand short-video content where the number of users is skyrocketing.
The transaction could be completed as soon as in the next few weeks which may involve strategic co-operation, news agency Bloomberg reported.