Facebook has enjoyed unparalleled reach in India for more than a decade. But as China’s fast-growing ByteDance emerges as a formidable competitor in what has become the world’s second largest internet market, the American giant has found the horse it wants to bet on. 

Facebook announced today it has invested $5.7 billion in India’s Reliance Jio telecom operator with more than 350 million subscribers. 

More to follow…

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