Bharti Airtel calls reports on investment by Google 'speculation'
Telecom major Bharti Airtel on Tuesday described that the reports on likely investment by Google into the company as speculations
New Delhi, Aug 31 Telecom major Bharti Airtel on Tuesday described that the reports on likely investment by Google into the company as speculations.
The company responded after the exchanges had sought clarification on the reports of a possible investment running into thousands of crores by the US-headquartered technology major into the telco.
"We would like to submit that the Company, as a matter of policy, does not comment on media speculation/report(s)," it said in a regulatory filing.
Airtel, however, said that being a significant player in the telecom and digital industry, the company receives interests from high quality investors and companies for its various businesses.
It further said that the company evaluates various opportunities of potential investor engagement and takes decisions in a judicious manner.
"As a responsible corporate that follows the highest standards of corporate governance, the Company is fully conscious of its disclosure obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and is committed to act in consonance with the same."
As per recent media reports, both the companies are already in advanced stage of discussions and negotiations since last year.
Shares of the company surged to 52-week high levels during the day. Around 2.40 p.m., Bharti Airtel shares on the BSE were at Rs 657.45, higher by Rs 37.10 or 5.98 per cent from its previous close.
On Sunday, the Board of Directors of the company have approved the raising of up to Rs 21,000 crore through a rights issue.