Airtel has announced a partnership with Google. In this partnership, Google is going to invest $1 billion in Airtel from its Google for India Digitization Fund. Google will also take a 1.28 per cent stake in Airtel by investing 700 million. While an investment of $300 million has been announced under the multi-year deal.
Google-Airtel partnership will strengthen India's digital path: Telecom operator Airtel says that this new partnership is going to make access to smartphones and customers easier. At the same time, it will also work to strengthen the partnership in the world of 5G networks. Google can strengthen the cloud ecosystem in India. Airtel is also going to be expanded by Google with an investment of 300 million. At the same time, digital programs are going to be delivered to the users at an affordable rate. Experts say that the Google-Airtel deal will make the digital path easier in India. At the same time, users will also get help in delivering other digital services, including the internet at an affordable rate.
Google-Airtel deal boosts the stock: By investing in Airtel, Google is also going to get 71,176,839 equity shares to Airtel on a basis of Rs 734 per share. In all, Google is required to donate Rs 5,224.38 crore ($700 million) to Airtel as well. With the announcement of this partnership, the stock has jumped 1.95 per cent to a high of Rs 721 in early trade. At present, Airtel's promoter groups - the Mittal family and Singtel - own 55.93 per cent of the telco and the rest is with the public. The Mittal family has about 24.13 per cent stake, directly and indirectly, while Singtel has a 31.72 per cent stake.