New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Recently which global tech firm had buys 1.2% stake in

    Bharti Airtel for $700 million?
    A Microsoft Correct Answer Incorrect Answer
    B Intel Correct Answer Incorrect Answer
    C Google Correct Answer Incorrect Answer
    D IBM Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Bharti Airtel approved allotment of 71 million shares to tech major Google at an issue price of Rs 734 per share. Google will hold 1.2% of total post-issue equity shares of the company. In January, Google had said that it will invest $1 billion in Bharti Airtel. Of this, $700 million (Rs 734 per share) will be for picking up 1.28% stake in the country’s second-largest telecom service provider, while the rest will be for multi-year plans related to devices and other programmes around digital inclusion. The deal with Bharti and earlier with Jio is part of Google’s India Digitization Fund through which it has committed to invest $10 billion over 5 to 7 years.

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