Reliance AGM: JioPhone Next, $15 billion deal with Aramco – Huge statements by Mukesh Ambani

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Image Source: RIL Mukesh Ambani addressed the Reliance Industries Ltd’s (RIL) 44th AGM essentially.

Reliance AGM Updates: Attending To the Reliance Industries Ltd’s (RIL) 44th Annual General Fulfilling (AGM) virtually, Mukesh Ambani on Thursday invited Saudi Aramco chairman and head of Kingdom’s cash-rich wealth fund PIF, Yasir Othman Al-Rumayyan on the board of Reliance Industries. He will be an independent director in a precursor to a USD 15 billion offer in between RIL and Saudi Aramco. Ambani also revealed the launc of JIOPHONE NEXT, a mobile phone jointly established by Google and Reliance Jio.

Ambani, who had 2 years back divulged talks to sell a 20 per cent stake in the company’s oil-to-chemical (O2C) unit to Saudi Aramco, announced the appointment of Al-Rumayyan at the business’s annual conference of investors.

Harvard educated, Al-Rumayyan, 51, will change Yogendra P Trivedi, 92, who has expressed desire to retire, Ambani said at the business’s annual shareholder meeting.

On the sale of 20 per cent stake in the O2C organization, he stated the deal is likely to conclude this year. “We anticipate inviting Saudi Aramco as a strategic partner in our O2C service,” he said.

ALSO READ: No alternative for services but to go green: Mukesh Ambani

RIL AGM Highights:

  • I am happy to reveal that Google and Jio groups have collectively established a truly development smartphone– JIOPHONE NEXT. It is a completely included smart device supporting the entire suite of applications from both Google and Jio: Mukesh Ambani
  • JIOPHONE NEXT is powered by an optimized version of Android OS collectively established by Jio and Google. It is ultra-affordable and packs advanced features. It will be readily available in market from Ganesh Chaturthi, 10th September: Dependence Industries chairman Mukesh Ambani
  • In 2016, we introduced Jio with the goal of bridging Digital Divide in India. Now, in 2021, we are releasing our brand-new energy business with the goal of bridging the green energy divide in India and globally, says Mukesh Ambani at RIL AGM
  • I invite Yasir Al-Rumayyan, Chairman of Saudi Aramco and Governor of PIF, to join the Board of Dependence Industries as Independent Director. His joining our Board is also the beginning of internationalisation of Reliance: Reliance Industries Chairman Mukesh Ambani
  • Our company and monetary success since last Annual General Satisfying has actually exceeded expectations. But what has actually provided me more joy than our organization performance is RIL’s humanitarian efforts during these hard times: Mukesh Ambani

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Released at Thu, 24 Jun 2021 10:02:18 +0000