Alphabet’s Google will invest up to US$1 billion in India’s Bharti Airtel, as part of the internet giant’s plans to inject US$10 billion into the country in up to seven years through agreements and partnerships.
Bharti Airtel is an Indian multinational telecommunications services company based in New Delhi, India. It operates in 18 countries in South Asia and Africa, as well as the Channel Islands. In India, the company offers fixed-line and broadband services in 93 cities.
The investment includes a $700 million investment in Airtel and up to $300 million to implement commercial deals, including expanding Airtel’s products and services, the companies said on Friday.
The investment will help Airtel develop devices, home broadband, data centers, cloud adoption and, over a period of time, develop 5G networks, said Gopal Vittal, CEO of Bharti Airtel, India and South Asia.
With Jio and Airtel, Google now covers nearly 75% of India’s smartphone market, said Ambit Capital analyst Vivekanand Subbaraman.
Reference: CNN Brasil