HomeEconomyAfter Jio, Google to invest $ 1 billion, now in Airtel

After Jio, Google to invest $ 1 billion, now in Airtel

New Delhi: Google will invest $1 billion (approx. Rs 7,500 crore) in Bharti Airtel, which includes 1.28 per cent stake at Rs 734 per share, and the rest towards multi-year plans for scaling up the offerings of Airtel.

Google will make the investment as part of its “Google for India” digitization fund.

The $300 million will be invested for implementing commercial agreements, which includes investments in scaling-up Airtel’s offerings covering a range of devices for consumers via innovative affordability programs, as well as for offerings such as accelerating access and digital inclusion across India’s digital ecosystem.

“This will comprise- USD 700 million equity investment in Bharti Airtel at a price per share of Rs 734. Under the larger strategic goals of the partnership, both companies will also potentially co-create India-specific network domain use cases for 5G and other standards, with cutting-edge implementations,” Airtel said in a statement.

“Airtel and Google share the vision to grow India’s digital dividend through innovative products. With our future ready network, digital platforms, last-mile distribution and payments ecosystem, we look forward to working closely with Google to increase the depth and breadth of India’s digital ecosystem,” Bharti Airtel chairman Sunil Bharti Mittal said in the statement.

Google had invested $4.5 billion for a 7.73% stake in Jio, in July 2020.

[responsivevoice_button buttontext="Listen This Post" voice="Hindi Female"]


Please enter your comment!
Please enter your name here


Trending News

Global Arms Suppliers Face Revenue Dip Despite Increased Demand Amid Ukraine Conflict

Despite heightened demand driven by the conflict in Ukraine, the world's leading arms suppliers experienced a 3.5% decline in...

Analysis of State Election Results: Implications for the 2024 General Elections in India

The recent state election results in India, particularly in Madhya Pradesh, Chhattisgarh, and Rajasthan, have several implications for the...

Arshdeep Singh’s Heroic Last Over Seals Series Win for India Against Australia

In a thrilling conclusion to the T20 series, India's Arshdeep Singh showcased nerves of steel as he defended nine...

Congress’s Success in Telangana Elections a Boon for Karnataka Unit

In a significant development, the recent election victory in Telangana has not only secured success for the Congress but...