Earlier this year, Bharti Airtel, the country’s second-largest carrier, announced that it had a $ 1 billion investment from Google. Of the $ 1 billion, more than $ 700 million was a telco investment in a 1.28% stake. The remaining $ 300 million was for signing a multi-year contract. The main purpose of Google’s investment in Airtel was to jointly create a 5G use case unique to India. Shareholders of the telephone company have approved the transaction between the companies. However, the final decision from the Competition Commission of India (CCI) has not yet come.
On June 30, 2022, Airtel announced that it received a green light from CCI for Google’s investment of $ 700 million (Rs 52,243.80 million). Airtel will issue up to 71,176,839 shares of Rs5 at face value to Google at a price of Rs734 per share.
This means that Google owns 1.28% of Bharti Airtel.
Even if Google is affiliated with Jio, there will be no conflict of interest
Google is also working closely with India’s number one carrier and Bharti Airtel’s main competitor, Reliance Jio.
Gopal Vittal, CEO of Bharti Airtel, previously stated that there would be no conflict of interest in the deal between the telco and Google. Vittal has revealed that transactions between Airtel and Google are different from transactions between Google and Jio.
Google and Airtel are aiming to enter into multiple commercial deals in the future that are different from what Geo plans to do with search engine giants. This is a big win for Bharti Airtel.
Combined with this money and the hundreds of billions of rupees that Airtel can save by announcing that it will postpone the additional AGR (Adjusted Gross Revenue) membership fee for four years until 2018-19, Airtel will face Jio directly. You will be in a very strong position. ..
The war to win customers in the 5G era has begun again, this time with Jio having Airtel as an equal competitor.
