Alphabet Inc’s Google on Friday said it is investing up to $1 billion in Bharti Airtel, including $700 million to buy a 1.28% stake in India’s second-largest telecom operator, which is owned by billionaire Sunil Mittal.
In addition to buying a stake in Bharti Airtel, at 734 rupees ($9.77) per share, Google will invest up to $300 million for commercial agreements over the next five years. The deal will be subject to necessary regulatory approvals.
In July 2020, Google invested $4.5 billion in India’s largest operator, Jio, owned by tycoon Mukesh Ambani. The investments are a part of the company’s $10 billion investment plan for the India Digitization Fund.
Read more: Forbes
