Business News | Google and Bharti Airtel will now work together to provide affordable smartphones. According to the information given in the regulatory filing, Google will invest $ 100 million in Indian telecom company Bharti Airtel. A report said that along with the smartphone, both the companies have joined hands regarding 5G.
Will buy stake for $ 700 million
According to the report, out of this huge investment of $ 100 million, Google will buy a stake in Bharti Airtel through $ 700 million (Rs 5257 crore) and together develop affordable phones as well as research 5G. According to the information given in the filing on Friday, Google will buy 1.28 percent stake in Bharti Airtel at a price of Rs 734 per share. Apart from this, investment of $ 300 million (Rs 2253 thousand crore) will be done in the form of commercial agreements for several years.
Cheap phones will be ready under the partnership
According to the release issued by Airtel on Friday, smartphones will be made available in all price ranges under partnership with Google. Both the companies will work together on the 5G network according to the local situation of India. Together, the two companies will promote the cloud ecosystem for business in the country. Let us inform that the partnership between Google and Airtel has been welcomed by the investors and its price jumped from Rs 706.95 to Rs 721.95 on the NSE in intra-day.
