Software giant Google has acquired 1.28% equity stake in Bharti Airtel Limited.

Google will invest up to $1 billion in the telecom major as part of its Google for India Digitization Fund. The deal includes Google investing $700 million to acquire 1.28 per cent ownership in Airtel and up to $300 million towards potential multi-year commercial agreements, reported ET.

J. Sagar Associates advised Google and the team was led by Partner Anand Lakra.

AZB & Partners advised Bharti Airtel on the acquisition. The team was led by Partners Anil Kasturi and Ashish Pareek.

AZB and Economic Laws Practice is advising Google on Competition aspects.

Google International LLC will be allotted 71,176,839 equity shares of Bharti Airtel on a preferential basis at ₹734 a piece aggregating to approximately ₹52,243 million (US$700 million).

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