The Competition Commission of India (CCI) is eyeing Facebook's 9.99% stake in Reliance Jio. CCI is concerned about the personal data of the consumers keeping in mind the interest of this alliance. CCI Chairman Ashok Kumar Gupta said that we are considering the apprehensions about misuse of data. However, he declined to give more details about it.
Gupta said that CCI is also looking into whether the new partner in such alliances comes under assessment. He said that in some alliances and takeover cases, it has been seen that the new partner has escaped scrutiny despite the potential threat present. With the agreement of Jio and Facebook this social media company will have access to a lot of data. As personal information of people should not be used in a wrong way, it has to be ensured.
However, no timeframe has been stated by the CCI for the final verdict in the case. According to the current rules, if the CCI does not take a decision in this matter within 210 days, then this agreement will be considered acceptable.
Facebook has said in the application to the CCI in this matter that no rules have been violated in this agreement. Facebook and its subsidiary, WhatsApp are working on a plan to establish a digital marketplace through this investment.
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