Question
Recently which global tech firm had bought 1.2% stake in
Bharti Airtel for $700 million?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 countryrsquo;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 Googlersquo;s India Digitization Fund through which it has committed to invest $10 billion over 5 to 7 years.
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