A Billion-Dollar Investment: Google Is About To Make An Equity Purchase Of Around 1.28% In Bharti Airtel

A Billion-Dollar Investment: Google Is About To Make An Equity Purchase Of Around 1.28% In Bharti Airtel
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The United States-based Tech MNC, Google LLC, and Indian Telecom Services MNC, Bharti Airtel Ltd., made a public statement that both the tech giants will have a long-term collaboration, aiming to help the Digital Ecosystem India grow at a faster pace. 

As per the announcement made by both the firms, a whopping One Billion Dollars will be invested into Bharti Airtel by Google. This deal is agreed upon mutual terms for around five years, taking place in the form of an Equity Purchase which is about 1.28%, i.e., a USD 700 Million investment for INR 734 per share, and a promising Commercial Agreement, amounting to around USD 300 Million.

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The Chairman of Bharti Airtel Ltd., Sunil Bharti Mittal, stated that their company is hoping to collaborate with Google soon to expand the digital ecosystem of India by providing the best products and services, ultimately providing a pleasing customer experience. He believes both companies share this ambition for improvising digitization in India.  

The CEO of Alphabet Inc. and Google LLC, Sundar Pichai, stated that their upcoming investment into Bharti Airtel is part of the Google for India Digitization Fund initiative. The efforts will be made to improve India’s Digital economy by assisting enterprises in becoming more digitally integrated, improving network connectivity for businesses to run their operations smoothly, and expanding the adoption of smartphones amongst Indian consumers. 

Several steps will be taken by both the companies together post the agreement. These may include: Making smartphones more affordable, offering excellent network connectivity across virtual domains, further developing India’s 5G network, and ultimately providing the best experience to customers, as well as helping Small and Mid-size Enterprises (SME) grow.

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Google and Bharti Airtel intend to apply their skills and competencies to resolve issues relating to the accessibility and affordability of online services to Indian consumers. Both the companies prioritize India’s cloud ecosystem, working on its development and growth, speeding up the transformation of the nation’s economy towards digitization.

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