Bharti Airtel announced that Google will invest up to $1bn in the telecom company as part of its Google for India Digitization Fund. Here, Google will invest $700mn to take a 1.28% stake in Airtel at a price of INR 734/share. Also it will invest up to $300mn in potential multi-year commercial agreements. Airtel said that the partnership with Google will help in enabling affordable smartphones and to co-create an India-specific network domain use case for 5G and other standards.
Bharti’s dollar bonds were stable with its 5.65% Perp at 103.55, yielding 4.36%.
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