large scale image
LCP Image

Back to TSCFM News

Google to invest $1bn in Bharti Airtel

January 28, 2022

Google to invest $1bn in Bharti Airtel

Bharti Airtel on Friday announced that Google will put up to $1 billion in the telecom major as a part of its Google for India Digitization Fund. The deal includes Google contributing $700 million to acquire 1.28 percent ownership in Airtel and up to $300 million towards potential multiyear commercial agreement.

The partnership, the telecom operator said, will focus on enabling affordable access to mobile phones across price ranges, and will continue to explore building on their existing collaboration to potentially co-create India-specific network domain use cases for 5G and other standards. It will also help with accelerate the cloud ecosystem for business across India.

Google International LLC will be allotted 71,176,839 equity shares of Bharti Airtel on a special premise at ₹734 a piece, aggregating to ₹5,224.38 crore ($700 million). The stock rose 1.95 percent to hit a high of ₹721 in a initial trade.

The $300 million sum will go towards implementing commercial agreements, which will include investments in scaling Airtel’s offerings that covers a range of gadgets to consumers via affordability programs as well as other offerings aimed at accelerating access and digital inclusion across India’s digital ecosystem.

Important Links:

Recommended for you ...

Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services
Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services

February 12, 2024

Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices
Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices

February 12, 2024

Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices
Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices

February 12, 2024

Enquire Now
REQUEST A CALLBACK
Chat on WhatsApp