New Delhi, Jan 28 (PTI) Shares of Bharti Airtel on Friday gained over 1 per cent after the telecom major’s announcement that Google will invest as much as USD 1 billion in the company in picking up a 1.28 per cent stake and scaling up offerings. The stock gained 1.23 per cent to settle at Rs 715.90 on BSE. During the day, it jumped 6.44 per cent to Rs 752.80.
On NSE, it gained 1.20 per cent to settle at Rs 715.80.
In volume terms, 5.80 lakh shares were traded on BSE and over 2.14 crore on NSE.
Google will invest as much as USD 1 billion in Bharti Airtel in picking up a 1.28 per cent stake and in scaling up offerings of India’s second-largest mobile phone operator, the telecom major said on Friday.
Alphabet Inc’s Google will pay USD 700 million (Rs 734 per share) for a 1.28 per cent stake in Bharti Airtel Ltd and the rest towards multi-year plans that will include devices.
This will be the second investment by Google, which had two years ago committed to investing USD 10 billion in India via its digitisation fund over 5 to 7 years through equity deals and tie-up.
It had in July 2020, invested USD 4.5 billion for a 7.73 per cent stake in billionaire Mukesh Ambani’s Jio Platforms.
While the 2020 investment valued Jio Platforms’ equity at Rs 4.36 lakh crore (USD 58.1 billion), the USD 700 million investment announced on Friday values Bharti Airtel’s equity at Rs 4.1 lakh crore (USD 54.7 billion). PTI SUM SUM RUJ RUJ
