Bharti Airtel and Google have announced that they will partner with long-term and multi-year agreements.
This agreement includes an investment of $ 700 million to obtain 1.28% of the shares in the airtel and up to $ 300 million on the potential of multi-year commercial agreements.
As part of this partnership, Google intends to invest up to $ 1 billion, as part of Google for Indian digitization funds, which includes equity and corpus investments for potential commercial agreements, to be identified and approve mutually pleasant requirements above the next five-year courses .
It will consist of: $ 700 million in equity investment in Bharti Airtel at a price of Rs 734 per share of up to $ 300 million which will lead to the application of commercial agreements, which will include investment in increasing airtle offer which includes various devices through innovative affordability programs and other offers Aimed at accelerating access and digital entry in all Indian digital ecosystems.
This agreement will submit to the required regulatory approval.
As part of his first commercial agreement, Airtel and Google will work together to build a broad airtel offer which includes various devices that support Android to consumers through innovative affordability programs.
The two companies said that they would continue to explore further opportunities to dropping obstacles to smartphones crossing various price points, in partnership with various manufacturers of devices.
Sunil Bharti Mittal, Chairman Bharti Airtel said, “Airtel and Google shared a vision to grow Indian digital dividends through innovative products.
With our future ready-to-offer network, the digital platform, the last mile distribution and payment ecosystem, we hope to work with Google to increase the depth and extent of Indian digital ecosystems.
“” Airtel is a leading pioneer forming the future of digital India, and we are proud to partner with a shared vision to expand connectivity and ensure fair access to the Internet for more Indians, “said Sundar Pichai, Google and Alphabet CEO.
“Our commercial and equity investments in Airtel are the continuation of our Google for Indian digitization funds to increase access to smartphones, increasing connectivity to support new business models, and help companies in their digital transformation trips,” he added.
“Under a greater strategic goal of the partnership, the two companies will also have the potential to co-create cases of use of Indian network domains for 5G and other standards, with the latest implementation.
Airtel already uses a core & package software that is ready to evolve 5G.
Network platforms Specified, and planning to explore the spread of the deployment of Google network virtualization solutions to provide superior network experience to their customers, “said the statement.