Google Airtel News Today

Tech giant splashes out Rs 5,220 crore to buy 1.2% of Bharti Airtel. Here's why.

The $700 million equity investment in Bharti Airtel is at a price per share of Rs 734, while $300 million will go towards investments in scaling Airtels offerings that covers a range of devices to consumers.

Google made the investment as part of its India Digitization Fund, which CEO Sundar Pichai had announced in July 2020 to help accelerate India's digital economy.

MUMBAI - Google will invest up to $1 billion in India's second-largest mobile operator, Airtel, the companies said Friday, as the Android-maker looks to bolster its presence in the vast nation's booming telecoms market.

Google will invest up to $1 billion in India's second-largest mobile operator, Airtel, the companies said on Friday. The global tech giant will buy a $700 million stake in billionaire Sunil Mittal's Bharti Airtel, giving it 1.28 per cent ownership, the firms said in a joint statement.

The investment includes a USD 700 million equity investment in Airtel at a price of 734 rupees (USD 9.77) per share and up to USD 300 million towards implementing commercial agreements, including investments in scaling Airtel's offerings, the companies said.