Google Plans Up to $1 Billion Partnership With Bharti Airtel
2022年1月28日 - 1:57PM
Dow Jones News
By Kosaku Narioka
Alphabet Inc.'s Google plans to invest up to $1 billion in a
multiyear partnership with Bharti Airtel Ltd. to accelerate the
growth of India's digital economy, the companies said Friday.
Google plans to take a 1.28% stake in the Indian telecom company
for $700 million, and also invest up to $300 million for potential
commercial initiatives to boost Bharti Airtel's offerings and to
improve access in India's digital services, the companies said.
The deal will be subject to necessary regulatory approvals, they
said.
The partnership will focus on enabling affordable access to
smartphones and growing the cloud ecosystem for businesses across
India, they said.
Bharti Airtel plans to issue up to 71.2 million shares to Google
at 734 rupees ($9.76) each, the company said.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
January 27, 2022 23:42 ET (04:42 GMT)
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