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

Published on:

01 Jul 2022, 7:26 am

1 min read

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.