Alphabet's returns on Jio IPO may be impacted by the falling rupee; Google is in talks with the EU following a €890M DMA fine.

Jio Platforms' planned IPO may yield modest returns for early investors. Alphabet's Google holds a 7.7% stake in the company. The prolonged decline of the Indian rupee contributes to these modest returns. Alphabet's annualized return is estimated at 8.2% at the top end of the price band.

The European Commission confirmed it is in dialogue with Google. Discussions concern changes to Google's search result displays and Google Play fees. This dialogue follows a €890 million fine for Google's non-compliance with the Digital Markets Act. Google has started to implement changes. The final outcome of these discussions remains to be seen.