Global technology giant Google has bought a stake in Indian telecom giant Bharti Airtel. After announcing a $10 billion investment in India last year, this is Google’s second deal in the Indian telecom sector after Reliance Jio.
Google will buy 7.11 crore shares of Bharti Airtel, according to a regulatory filing today in connection with the $1 billion investment announcement in January. The company will buy these shares on preferential basis.
According to a regulatory filing submitted on July 14, Bharti Airtel paid Rs. The issue price of 734 has allowed a preferential allotment of 7.11 crore shares to Google. With this, Google will hold 1.2 percent of the total equity shares of the company.
The Sunil Mittal conglomerate company said in a BSE filing, “The ‘Special Committee of Directors for Preferential Allotment’ of the company, in its meeting held today, on July 14, 2022, has approved Rs. 5/- to allotment of 71,176,839 equity shares of face value to Google International LLC. These shares will be issued to Google at a price of 734/-.
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