Google is dialling into Bharti Airtel with a billion dollars. The deal includes Google investing $700 million to acquire 1.28 per cent ownership in Airtel and up to $300 million towards potential multi-year commercial partnership.
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Google will be allotted 7.1 crore equity shares of Bharti Airtel on a preferential basis at Rs 734 per share, aggregating to over Rs 5,200 cr.
Google already holds stake and is developing a smartphone with Mukesh Ambani's Jio. Google holds 7.73% stake in Jio Platform for which it paid over Rs 33,000 cr for in November 2020.
With the new investment the search giant has a direct line to India's top two telcos.