After pumping in thousands of crores in Reliance’s telecom arm last year, US tech giant Google is eyeing an investment in Jio’s rival Bharti Airtel. The move will amp up the competition between the rivals in the Indian telecom space that is currently headed towards a duopoly of sorts with the future of Vodafone Idea, the third largest market player, in question.
According to a TOI report, “Google could well be on its way to making substantial investments, running into several thousands of crores of rupees”, into Bharti Airtel. The Sundar Pichai-led company is in “advanced stage of negotiations” with Airtel for the “past nearly one year”, and the deal size could be “substantially large”.
The contours of the partnership are being worked upon for months as top executives from both companies, and their internal and external legal and M&A teams are thrashing out the finer points of the arrangement.
It remains to be seen if Jio Jio places any…