Google Invests $1Bn in Airtel; $700 Million Equity Stake. $300mn towards commercial agreements

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Google Invests $1Bn in Airtel; $700 Million Equity Stake. $300mn towards commercial agreements

  • Besides the near $700-million stake purchase, Google will also invest up to $300 million towards implementing various commercial agreements which will include investments in scaling Airtel’s offerings.
  • The investment “is a continuation of our Google for India Digitization Fund’s efforts to increase access to smartphones, enhance connectivity to support new business models, and help companies on their digital transformation journey,” Sundar Pichai
  • They pared most of the gains to trade 0.7 percent higher at Rs. 711.8 on the National Stock Exchange at 09:34 AM. Bharti Airtel will issue 71.2 million shares of the company to Google on a preferential basis at Rs. 734 apiece, which is a premium of 4 percent to the closing price on January 27.

[Via]

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