Google Invests In Bharti

Alphabet (Google) announced that it will invest about $700 million to buy 1.28% of Bharti Airtel. An additional $300 million will be available to grow the company's infrastructure over the next five years.

Bharti Airtel is India's second-largest mobile-phone operator with operations across the country and some parts of Africa. They're currently making a big play in satellite connectivity to provide internet to places that are hard to reach. This deal is a great entry into Asia's number three economy, which has a population of 1.4 billion people.

India is a key growth market for Google's search engine and advertising business, so the deal makes sense. Before this transaction, Google had invested $4.5 billion for a 7.73% stake in Mukesh Ambani's digital unit called Reliance Jio Platforms. This deal is seen as a way to diversify their bets in India.