Google to invest up to $1 billion in Bharti Airtel as it expands its presence in India - Bloomberg
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(Bloomberg): Google plans to invest up to $1 billion in India's second-largest mobile operator, Bharti Airtel. We will further expand into the country, which is the second largest mobile phone market in the world.
Google parent Alphabet will buy a 1.28% stake in Bertie for $700 million, according to a filing filed with the stock exchange on Thursday. In addition, it will invest up to $300 million in multi-year business agreement programs.
With Asia's third-largest economy and a population of about 1.4 billion, India could present an attractive opportunity for Google, which is competing with Apple for dominance in the global operating system market. The company previously invested in the digital arm of Reliance Industries, a conglomerate led by billionaire Mukesh Ambani.
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