'No comment on media speculation': Bharti Airtel on report of Google investment

Responding to clarification sought by stock exchanges about Google's plan to invest in Bharti Airtel, the telecom operator on Tuesday said it does not comment on media speculation and reports.
 
"Being a significant player in the telecom and digital industry, the company receives interests from high quality investors and companies for its various businesses. The company evaluates various opportunities of potential investor engagement and takes decisions in a judicious manner," Bharti Airtel said in an exchange filing.
 
The company said that as a matter of policy, it does not comment on media reports, adding that it is fully conscious of its disclosure obligations under SEBI regulations "and is committed to act in consonance with the same".

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The exchanges had sought clarification from Airtel on a news report which said Google and the telecom operator have reached an advanced stage of discussions for the US-based technology giant investing in the company.
 
According to a Times of India report, Google is on its way to make investments worth thousands of crores in Airtel.
 
On Sunday, Airtel's board approved raising up to Rs 21,000 crore through a rights issue. The issue will be priced at Rs 535 per fully paid-up equity share, while the rights entitlement ratio will be one equity share for every 14 equity shares held by eligible shareholders as on record date.
 
Bharti Airtel Chairman Sunil Mittal on Monday said the fundraise will give the firm the fuel to shift to a higher gear and tap large opportunities by accelerating investments in the rollout of 5G services, fibre, and data centre business.

Also Read: Bharti Airtel will not shy away from tariff hikes: Sunil Mittal