CCI approves Google’s proposed acquisition of 1.28% stake in Bharti Airtel

Google will invest up to $1 billion in the telecom major as part of its Google for India Digitization Fund.
Google, Bharti airtel and CCI
Google, Bharti airtel and CCI

The Competition Commission of India (CCI) on Friday gave its approval to Google's proposed acquisition of a 1.28% stake in Bharti Airtel.

Apart from the investment agreement through which the tech giant shall acquire a minority and non-controlling stake in the Indian company, the two have also entered into certain commercial deals, a CCI press release stated.

It appears that the combination has been given the green signal on the basis of certain modifications proposed by Google. A detailed order is awaited in this regard.

Google will invest up to $1 billion in the telecom major as part of its Google for India Digitization Fund. This includes a $700 million equity investment and up to $300 million towards potential multi-year commercial agreements, as reported by Economic Times.

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In July 2020, Google had invested $4.5 billion (₹33,737 crore) in Jio Platforms, thus acquiring a 7.73% stake in the company owned by Mukesh Ambani's Reliance Industries.

Read the press release

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press-release CCI Google and Bharti Airtel.pdf
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