Airtel to receive huge funds from high quality investors

Airtel to receive huge funds from high quality investors

Airtel, the world’s largest telecommunications company, has announced that it has received interest from high-quality investors. It did not, however, confirm whether Google is one of them. The exchanges sought clarification from Airtel following rumors of Google investing in the telecom provider and negotiations reaching an advanced stage.

“Being a significant player in the telecom and digital industry, the company receives interests from high-quality investors and companies for its various businesses,” Airtel said in a regulatory filing. It further added as a clarification to the previous reports and speculations noting that, “We would like to submit that the Company, as a matter of policy, does not comment on media speculation/ report(s),” the company said.

Earlier rumors claimed that Google was on its way to spend hundreds of crores in Airtel. It was also reported that Google has been in advanced discussions with Airtel for almost a year, and the contract amount might be huge. The company, as a responsible corporation that adheres to the greatest standards of corporate governance, is fully aware of its disclosure responsibilities under SEBI rules and is dedicated to acting in accordance with the same, it added.

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