Alphabet Inc.-owned Google will invest up to $1 billion in India’s second largest telecom operator Bharti Airtel, two years after Mark Zuckerberg-led Facebook’s—now renamed as Meta Platforms Inc.’s—mega funding in Reliance Jio Platforms.
What Happened
The deal involves Google investing $700 million to buy a 1.28 percent stake in Airtel at a price of about $9.9 a share and also pump in up to $300 million toward potential multi-year commercial agreements, Airtel said in a regulatory filing on Friday.The New Delhi-based Airtel said the deal will help boost its 5G plans across smartphones of all price ranges.
