BENGALURU, May 24 (Reuters) – Jio Financial Services (JFS) (JIOF.NS), opens new tab is seeking shareholder approval for its unit to acquire equipment worth 360 billion rupees ($4.33 billion) from the retail arm of Reliance Industries (RELI.NS), opens new tab as the financial services provider plans to enter the device leasing business, a postal ballot notice said.
Under the proposed deal, the JFS unit called Jio Leasing Services will buy telecom equipment and devices that usually include routers and cell phones.
Source: REUTER
