Intel Corp 's INTC.O investment arm will pay some $255 million for a small stake in Reliance Industries Ltd's RELI.NS digital unit Jio Platforms, the latest in a slew of share sales that have helped the Indian conglomerate pay down debt.
Reliance has now sold just over a quarter of Jio Platforms, the unit that houses its telecoms venture Jio Infocomm and its music and movie apps, raising $15.8 billion from investors including Facebook Inc FB.O and KKR & Co KKR.N .
The deals highlight Jio Platforms' potential to become the dominant player in India's digital economy.
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