(Bombay) Google will invest up to 1 billion euros in the second Indian mobile operator Bharti Airtel, announced Friday the web giant which wants to consolidate its presence in the booming Indian telecom market.
Posted at 7:47 a.m.
The search engine specialist and owner of Android licenses is to pay $700 million for a 1.28% stake in Bharti Airtel, owned by billionaire Sunil Mittal, according to a joint statement from the two companies.
Up to an additional $300 million will be invested over five years in commercial projects decided “in the context of mutual interest” to prospect and find opportunities and “reduce barriers to smartphone access” in a very sensitive market. at the price.
“We are proud to partner in a joint endeavor to improve connections and ensure more Indians have fairer access to the internet,” said Sundar Pichai, himself born in India and CEO of Google’s parent company. , Alphabet, in a statement.
Google already owns 7.7% of Indian leader Reliance Jio, owned by Asia’s richest man Mukesh Ambani, after a $4.5 billion investment in 2020.
The two companies are collaborating in a low-cost smartphone launched last November with 4G.
Jio has been fiercely competing with Airtel and Vi, the local subsidiary of Vodafone giant British Telecom since it opened a price war in 2016 by offering free calls and internet at knockdown prices.