Google has Invests around one Billion us dollar in Bharti Airtel to Promote India's Digital Growth "

India's second-largest telecommunications company Bharti Airtel recently announced that Google would invest up to $ 1 billion in the company to improve India's digital travel journey. The investment will be part of the "Google for India Digitization Fund" and will see the Mountain View giant invest $ 700 million to acquire 1.28% of Airtel and up to $ 300 million in multi-year trade agreements, according to reports.

As part of the deal, Google will acquire 7.1 crore shares of Airtel by selecting Rs 734 per share, including Rs 5,224.28 crores (~ $ 700 million). Apart from this, the software giant will invest another $ 300 million over the next five years to expand Airtel's offerings and provide a range of devices to customers through accessibility programs.

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As with Airtel, the partnership with Google will focus on providing affordable smartphones at all different prices to Indian customers and boosting the country's digital growth. In addition, the agreement will continue to build on the existing relationship between Airtel and Google and improve the conditions for using India-based network infrastructure on 5G and other network levels. It is also expected to improve the cloud ecosystem for various businesses in the country.

Currently, Airtel shares are divided between a group of its promoters, the Mittal family and SingTel, and the community. While the former holds 55.93% of the company, some are owned by the public. Now, with Google holding 1.28% of the largest telecommunications company, Airtel's portfolio is growing exponentially. As a result, Bharti Airtel shares increased by 2.04% in value, up to Rs 721.65 per share on BSE.

In a statement, Google and Alphabet CEO Sundar Pichai said "Our commercial investment and equity Airtel is a continuation of Google's efforts for India Digitization Fund to expand access to smartphones, improve connectivity to support new business models, and assist companies in their digital transformation journey,"

Sunil Bharti Mittal, Chairman of Bharti Airtel said that “ the Airtel and Google share a vision to increase India's digital profits with new products. With our network ready for the future, digital forums, end-to-end distribution, and payment system, we look forward to working closely with Google to increase the depth and breadth of India's digital ecosystem, ”

Now, if you don't know, Google is already working with Reliance Jio, the number one telecom giant in India. The Mountain View giant has invested more than Rs 33,700 crores to contribute 7.7% to Jio forums, signed a 5G cloud technology partnership, worked with the telco to launch the affordable JioPhone Next, and more. It is interesting to see that Google is interested in the growth of telecommunications and technology giants in the country.

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