Mumbai: Besides the US elections, foreign exchange traders and select banks in India are tracking another story: the progress on Google<\/a>’s $4.5 billion deal with Jio<\/a>. 孟买:除了美国选举,外汇交易员和选择银行在印度跟踪另一个故事:进展谷歌处理的45亿美元Jio。 Mumbai: Besides the US elections, foreign exchange traders and select banks in India are tracking another story: the progress on Google<\/a>’s $4.5 billion deal with Jio<\/a>.
Soon after the deal was announced the market priced-in the inflow and a possible appreciation of the rupee. Currency dealers sold dollar in the forward market or took position on exchanges or cut other deals.
While most in the market expect the deal to come through, traders are beginning to wonder why the Competition Commission<\/a> of India (CCI) is yet to approve the transaction.
“Google<\/a> has brought in half the money in tranches over the past 10 to 12 days. Banks as well as the company were expecting the CCI clearance to come in early last week.. If CCI takes a long time, some traders may change their positions depending on how the dollar-rupee reacts to the outcome of the US polls,” said a banker.
On July 15 Google announced it would invest Rs 33,737 crore to buy 7.7% stake in Jio<\/a> Platforms. After more than a month, probably spent in to addressing ` data privacy issues’, Google moved CCI in September. Google’s s arch rival Facebook<\/a>'s deal with Jio was announced in April and the CCI nod came in June.
In foreign direct investments, a bank receiving the foreign exchange sells the currency, converting the amounts in rupees, and holds the money in its suspense account till all regulatory approvals are in place. After that, the money is credited to the investee company while the foreign investor receives shares of the latter.
<\/p>Read also<\/h4>
![](\"\/Themes\/Release\/images\/responsive\/ettelecom-default.jpg\")
<\/a><\/figure>Google is buying 7.73% stake in Jio Platforms for Rs 33, 737 crore<\/a><\/h5><\/div>
<\/a><\/figure>CCI may ping Google for info on Jio deal<\/a><\/h5><\/div><\/div><\/div>
“Banks holding the fund are not complaining. On the contrary, the longer CCI takes to give its approval, the more they gain. It’s free money as no interest is required to be paid and funds can be deployed overnight with RBI or in the inter-bank market,” said another banker.
Google is awaiting CCI go-ahead for the stake buy as well as for a commercial pact to jointly develop entry level Android smartphones. The Silicon Valley giant plans to invest in the digital arm of Reliance Industries through its wholly-owned subsidiary, Google International LLC (GIL).
Experts had earlier told ET that the CCI scrutiny will follow similar questions around data sharing that were asked to the US social media major Facebook<\/a>. It will come in the backdrop of greater global regulatory scrutiny into the operations and actions of US technology majors such as Amazon, Apple, Google and Facebook, amid concerns around their anti-competitive behaviour.
Last month the US Department of Justice (DoJ) said that its investigators found that Google acted “unlawfully to maintain its dominant position in search and advertising on the internet.” The lawsuit came at a time Indian startup founders had approached the CCI and the Ministry of Electronics and IT (Meity), complaining about Google's ‘unfair’ practices via its dominance on the app ecosystem through Google Play store and the Android mobile platform.
Jio Platforms raised Rs 1,52,056 crore from 13 global investors, including Facebook and Google, for a cumulative equity stake of 32.96%. Others include Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, Public Investment Fund, Intel Capital & Qualcomm Ventures. All these investments, excluding Google, have been completed and the company has received Rs 1,18,319 crore.
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交易宣布后不久,市场消化流入和可能的卢比的升值。外汇交易商卖出美元远期市场或位置在交易所或削减其他交易。
虽然大多数在未来市场预期交易,交易商开始想知道为什么竞争委员会印度(CCI)是未批准交易。
”谷歌了一半的钱部分在过去10到12天。银行以及公司所期望的CCI间隙在上周初. .如果CCI需要很长时间,一些交易员可能改变立场取决于dollar-rupee如何应对美国民意调查的结果,”一位银行家说。
外国直接投资,银行收到外汇销售货币,将卢比的数量,并持有暂记帐户的钱直到所有监管机构的批准。之后,资金被投资对象公司,而外国投资者获得后者的股价。
“持有该基金的银行不是抱怨。相反,CCI给其批准的时间越长,他们越受益。它是免费的钱没有需要支付利息和资金可以部署在一夜之间与央行或在银行间市场,”另一位银行家说。
谷歌正在等待审批结果CCI股份购买以及商业协议共同开发入门级的安卓智能手机。硅谷巨头计划投资在数字的信实工业通过其全资附属公司,谷歌国际有限公司(GIL)。
专家此前曾对ET, CCI审查将遵循类似的问题在数据共享,被要求美国社交媒体专业脸谱网。会在更大的背景下全球监管审查的操作和行为等美国科技巨头亚马逊、苹果、谷歌和Facebook,担心他们的反竞争行为。
上个月美国司法部(DoJ)说,调查人员发现,谷歌“非法行动,维持其主导地位在互联网搜索和广告。“诉讼来一次印度创业者靠近CCI和中国电子(Meity),抱怨谷歌的“不公平”实践通过其主导地位的应用生态系统通过谷歌商店和安卓移动平台玩。
Jio平台提高Rs 52056卢比的来自13个全球投资者,包括Facebook和谷歌在内的累计32.96%的股权。其他包括银湖,Vista Equity Partners,一般的大西洋,KKR Mubadala,阿布扎比投资局,TPG L Catterton,公共投资基金,英特尔资本与高通公司。所有这些投资,不包括谷歌(Google)已经完成,公司已经收到了Rs 1, 18319卢比。
Soon after the deal was announced the market priced-in the inflow and a possible appreciation of the rupee. Currency dealers sold dollar in the forward market or took position on exchanges or cut other deals.
While most in the market expect the deal to come through, traders are beginning to wonder why the Competition Commission<\/a> of India (CCI) is yet to approve the transaction.
“Google<\/a> has brought in half the money in tranches over the past 10 to 12 days. Banks as well as the company were expecting the CCI clearance to come in early last week.. If CCI takes a long time, some traders may change their positions depending on how the dollar-rupee reacts to the outcome of the US polls,” said a banker.
On July 15 Google announced it would invest Rs 33,737 crore to buy 7.7% stake in Jio<\/a> Platforms. After more than a month, probably spent in to addressing ` data privacy issues’, Google moved CCI in September. Google’s s arch rival Facebook<\/a>'s deal with Jio was announced in April and the CCI nod came in June.
In foreign direct investments, a bank receiving the foreign exchange sells the currency, converting the amounts in rupees, and holds the money in its suspense account till all regulatory approvals are in place. After that, the money is credited to the investee company while the foreign investor receives shares of the latter.
<\/p>Read also<\/h4>
<\/a><\/figure>Google is buying 7.73% stake in Jio Platforms for Rs 33, 737 crore<\/a><\/h5><\/div>
<\/a><\/figure>CCI may ping Google for info on Jio deal<\/a><\/h5><\/div><\/div><\/div>
“Banks holding the fund are not complaining. On the contrary, the longer CCI takes to give its approval, the more they gain. It’s free money as no interest is required to be paid and funds can be deployed overnight with RBI or in the inter-bank market,” said another banker.
Google is awaiting CCI go-ahead for the stake buy as well as for a commercial pact to jointly develop entry level Android smartphones. The Silicon Valley giant plans to invest in the digital arm of Reliance Industries through its wholly-owned subsidiary, Google International LLC (GIL).
Experts had earlier told ET that the CCI scrutiny will follow similar questions around data sharing that were asked to the US social media major Facebook<\/a>. It will come in the backdrop of greater global regulatory scrutiny into the operations and actions of US technology majors such as Amazon, Apple, Google and Facebook, amid concerns around their anti-competitive behaviour.
Last month the US Department of Justice (DoJ) said that its investigators found that Google acted “unlawfully to maintain its dominant position in search and advertising on the internet.” The lawsuit came at a time Indian startup founders had approached the CCI and the Ministry of Electronics and IT (Meity), complaining about Google's ‘unfair’ practices via its dominance on the app ecosystem through Google Play store and the Android mobile platform.
Jio Platforms raised Rs 1,52,056 crore from 13 global investors, including Facebook and Google, for a cumulative equity stake of 32.96%. Others include Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, Public Investment Fund, Intel Capital & Qualcomm Ventures. All these investments, excluding Google, have been completed and the company has received Rs 1,18,319 crore.
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