Jio Platforms shares in focus amid report of tech-for-equity talks with Comcast, Charter

Recent stock market debutant Jio Platforms Ltd is in focus on Wednesday as the Mukesh Ambani-led firm reportedly held talks with several companies including Comcast and Charter Communications about ​licensing its wireless broadband technology in exchange for potential stakes in the businesses, Reuters reported quoting two people familiar with the matter.

As per the Reuters report, Jio also held discussions with ‌South Africa's MTN Group but the talks broke down. This, as per the report, was because the two sides were unable to agree on valuation and certain licensing issues, the people said.

Reuters sources said there was no timetable for reaching a deal with any of the parties that Jio has spoken to. Business Today could not independently verify the report at this point in time.

Reuters said spokespeople for Comcast and Charter declined to comment, while Jio also did not respond to its queries.
Jio Platforms this week reported an in-line Q2 revenue growth, driven by 1.5 per cent sequential ARPU uptick, net additions of 90 lakh subscribers and a scale-up in digital services. Following its results, MOFSL and Dolat Capital have raised their targets on Jio Platforms Ltd. MOFSL maintained its 'Buy' rating and suggested a revised target of Rs 1,515 against Rs 1,350 earlier. Dolat Capital Markets maintained its 'Accumulate' rating but raised its target to Rs 1,450 from Rs 1,435 earlier. Jio Platforms shares settled at Rs 1,431.30 on Friday. Nomura and Elara Securities also cover the stock.

Controlled ​by Ambani's Reliance Industries, Jio has for months signalled plans to expand internationally with its proprietary broadband technology, which Reliance calls a “global first”, Reuters reported. The system runs on ​free, unlicensed Wi-Fi frequencies, making it cheaper to deliver internet to homes than traditional cable networks or mobile-based services, the report said.