Home News CCI Clears Google’s Stake Buy In Airtel: Here Are the Details

CCI Clears Google’s Stake Buy In Airtel: Here Are the Details


There are big steps are going to be taken by the tech giants in the stock market as actions in terms of investments in India, as the Indian product consumers market is a potentially big market than other markets around the globe population of Indian cities is high, so the chances of growth are more with ongoing market speed. Follow More Update On GetIndiaNews.com


India is a developing country so it is more open towards the organization, industries setup, production, and other aspects that support business. Recently there is a piece of news coming from the global giant search engine Google, that it is found seeking the formation of an anti-trust regulator competition commission of India (CCI-IN).

this Thursday reports claiming that the CCI managing staff approached a meeting with Google senior section to have a part Indian stakes as proposed to incest as stakeholding position of 1.28% in India telecom service provider Bharti Airtel.

CCA imposed the effects on the statement that the media that approval to Google LLC branch of Alphabet to acquire a non-controlling minority shareholding and Bharti Airtel will only be able to have full control over the stake related affairs and google will just provide financial and tech support without any authority to control.

The telecom service provider and internet commercial platforms will be seen together working as the news coming down are related to business agreements under which both would be seen working jointly on some highestimed project that will empower telecom provider.

As this is the initiative from the Indian government to bring multinational companies into India so that with their investment in India job opportunities will increase and support the technical and economic aspects of local cities.

Heading to that Google raised its statement saying about Google and Bharti Airtel will be organizing jointly on the key basis of modification operations. Google also there will be more changes and optimization in operations as agreement on conditions in the business model will happen in near future.

as of January, this acquisition was initiated in the year 2022, Airtel announced that Google is providing an investment of $700 million and will have a share acquisition of 1.28% and moving stockholding equity in his favor stock, a single stock is available in  INR value is Rs.734 for an individual.

Airtel is a Telecom competition in the market against the Jio telecom which is owned by commercial giant reliance Industries, this support from Google will help empower Airtel’s position in the Indian market which is previously dominated by Jio as it is providing free data which is also laying Jio fibre linea providing high speed and now Airtel will also able do so. On the recent Thursday shares of Airtel closed at a 0.4% loss and came to a stake exchange value of Rs.6 84.

U.S.-based Google is making the acquisition through a holding company steak and investment through LLC which is a subsidiary deal with a branch of Google alphabet that will invest in another 300 million part in the commercial business in other aspects like manufacturing affordable smartphones and providing deals in adopting the Google technology and providing companies software and customers.

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Ashish Sangwan
Studying engineering and business administration couldn't satiate his mind and in 2007, Ashish Sangwan found his calling as a sportswriter/journalist. Since then he was written on cricket, F1 and football at various avenues not only in India but also in USA and UK.


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