Picture: Bloomberg Quint
Bharti Airtel is reportedly planning to invest Rs 1.17 trillion as capital expenditure (capex) and related expenses through subsidiaries Indus Towers, Nxtra and Bharti Hexacom over the next four years.
To this end, Airtel is planning to hold an extraordinary general meeting on February 26, 2022, to seek shareholder approval for issuing shares to Google following the company’s purchase of a 1.28 per cent stake in the Airtel for about Rs 75 billion.
Meanwhile, according to the filing, out of the total proposed capex, Airtel is planning to spend Rs 880 billion in business with mobile tower company Indus Towers, Rs 150 billion for availing services of data centre firm Nxtra and up to Rs 140 billion through Bharti Hexacom.
The filing comes in the backdrop of Google announcing an investment of up to $1 billion in Airtel as the two companies explore ways to get more Indians online and look to cooperate on 5G use cases specific to India besides delivering enterprise services.
