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Google will invest up to $1 billion in Bharti Airtel through a mix of equity and commercial partnerships in areas like affordable smartphones, networks, and cloud.
This is the tech giant’s second investment in an Indian telecom service provider (after Reliance Jio) and is part of its $10-billion India digitisation fund. Discussion between the two companies had been going on since the first half of 2021 and culminated in an announcement on Friday.
The $1-billion commitment includes an equity investment of $700 million (Rs 5,224 crore). Shares will be issued to Google on a preferential basis at Rs 734 apiece and will give Google a 1.28 per cent stake in the company. The deal price is at a 2.5 per cent premium
