Bengaluru: Google Inc.
Google will invest up to $ 1 billion in Bharti Airtel in a step that can help improve the digital offer of telecommunications operators, said the company.
This investment includes an equity investment of $ 700 million in Airtel at a price of 734 rupees ($ 9.77) per share and up to $ 300 million to apply commercial agreements, including investment in the Skala AirTel offer, the company said.
The issue of shares is subject to regulatory approval and shareholders and comes a few months after Airtel raises up to 210 billion rupees through the sale of shares to existing shareholders.
Airtel shares rose 0.54% in 711 rupees after the announcement.
Google announced plans less than two years ago to invest $ 10 billion in India through digitizing funds for five to seven years through equity and bonding agreements.
Digital Platform Digital Unit Conglomerate Reliance Industries Ltd., which accommodates Jio Speaking Telecom Airtel, received an investment of $ 4.5 billion from Google in July 2020.
In return, the US Behemoth Tech gets a seat on the Jio board.
($ 1 = 75,1150 Rupee)