Telecom operator Bharti Airtel has allotted over 7.1 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 5,224 crore. Google now holds a 1.2% stake in India’s 2 telecom service providers. The investment follows Google’s USD 4.5 billion investment in Reliance Jio in July 2020 for India Digitization Fund.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Google made the investment as part of its USD 10-billion India Digitization Fund. Google will hold approximately 1.2 per cent of the total post-issue equity shares of the company– approximately 1.17 per cent on a fully-diluted basis. Google has also invested Rs 33,737 crore (about USD 4.5 billion) to buy a 7.73 per cent stake in Jio Platforms just a couple of days after it made an announcement about the India Digitization Fund.
Important takeaways for all competitive exams:
Air pollution in India has reached dangerous levels in 2024, especially in northern cities. Many…
Brazilian Federal Police Commissioner Valdecy Urquiza has been elected as the new Secretary General of…
The Dubai Sports Council has appointed four global sports icons as its Sports Ambassadors, including…
World Day for the Prevention of and Healing from Child Sexual Exploitation, Abuse, and Violence…
Phobias are strong, irrational fears of specific objects, places, or situations that can make life…
World AMR Awareness Week (WAAW) is an annual global campaign observed from 18-24 November. Its…