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(Bloomberg) -- Google will invest as much as $1 billion in India’s second-largest mobile phone operator, as firms race to offer inexpensive data and digital offerings in the only billion-people-plus market still open to foreign companies.Most Read from BloombergApple to Rival Square by Turning iPhones Into Payment TerminalsStocks Drop in Roller-Coaster Ride for Wall Street: Markets WrapHow a Fox News Interview Threw the Antiwork Subreddit Into ChaosCrypto Secrecy Makes DeFi a Financial Felon’s W
Alphabet Inc's Google will invest up to $1 billion in Bharti Airtel in a move that could help bolster the Indian telecom operator's digital offerings, the companies said on Friday. The investment includes a $700 million equity investment in Airtel at a price of 734 rupees ($9.77) per share and up to $300 million towards implementing commercial agreements, including investments in scaling Airtel's offerings, the companies said. The share issue is subject to regulatory and shareholder approval and comes months after Airtel raised up to 210 billion rupees through a sale of shares to existing shareholders.