Google gains equity stake in Bharti Airtel
Google gains equity stake in Bharti Airtel
Based on preferences, the shares will be allocated by Google
Bharti Airtel Limited's 1.28 percent equity stake was acquired by Google, the software giant.
As part of its Google for India Digitization Fund, the software giant will capitalise up to US$1 billion in the telecom major. As reported by ET, the agreement includes Google capitalising $700 million to gain 1.28 per cent ownership in Airtel and up to $300 million towards potential multi-year commercial agreements.
Led by Partner Anand Lakra, J. Sagar Associates guided Google and the team
On acquisition, Bharti Airtel was being advised by AZB & Partners. Partners Anil Kasturi and Ashish Pareek headed the team
Google has been suggested by AZB and Economic Laws Practice on Competition aspects.
Combining around ₹52,243 million (US$700 million) Google International LLC will be selected 71,176,839 Bharti Airtel's equity shares based on preference at ₹734 each.
