Bharti Airtel distributed 1.2 equity shares to Google for USD 1 Billion

Telecom driver Bharti Airtel has distributed over7.1 crore equity shares to internet major Google for Rs 734 a piece. Google to Invest USD 1 Billion in Airtel.

Telecom driver Bharti Airtel has distributed over7.1 crore equity shares to internet major Google for Rs 734 a piece. The allotment is part of Google’s commitment to invest USD 1 billion with Airtel, which included equity investment in the company worth USD 700 million, about Rs,224 crore. Google now holds a1.2 stake in India’s 2 telecom service providers. The investment follows Google’s USD4.5 billion investment in Reliance Jio in July 2020 for India Digitization Fund.

Google to invest USD 1 billion in Airtel

Google made the investment as part of its USD 10- billion India Digitization Fund. Google will hold roughly1.2 per cent of the total post-issue equity shares of the company – roughly1.17 per cent on a completely- adulterated base. Google has also invested Rs,737 crore (about USD4.5 billion) to buy a7.73 per cent stake in Jio Platforms just a couple of days after it made an advertisement about the India Digitization Fund.

Important takeaways for all competitive examinations Bharti airtel

• Innovated 1995;
• Author Sunil Bharti Mittal;
• Bharti Airtel Headquarters New Delhi;
• Bharti Airtel Chairman Sunil Bharti Mittal;
• MD & CEO Gopal Vital.