Google to invest USD 1 bn in Airtel to buy 1.28 pc stake: Know details here
Internet major Google will invest USD 1 billion in telecom major Bharti Airtel which includes equity investment as well as a corpus for potential commercial agreements, to be identified and agreed on mutually agreeable terms over the course of the next five years.
By : migrator
Update: 2022-01-28 06:10 GMT
New Delhi
The latest developments are here:
* Google made the investment as part of its Google for India Digitization Fund.
* This will comprise- USD 700 million equity investment in Bharti Airtel at a price per share of Rs 734
* Out of the total investment, USD 300 million will go towards implementing commercial agreements, which will include investments in scaling Airtel's offerings that covers a range of devices to consumers via innovative affordability programs as well as other offerings aimed at accelerating access and digital inclusion across India's digital ecosystem.
*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
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