Airtel<\/a> will also hold an extraordinary general meeting on February 26 to seek shareholder approval for issuing shares to Google following the US-based tech giant’s purchase of a 1.28% stake in the telco for about Rs 7,500 crore, it said in a regulatory filing on Saturday.
Out of the total proposed capex, Airtel<\/a> will spend Rs 88,000 crore in business with mobile tower company Indus Towers<\/a>, Rs 15,000 crore for availing services of data centre firm Nxtra<\/a> and transactions of up to ₹ 14,000 crore with Bharti Hexacom<\/a>, according to the filing.
Given the 5G<\/a> developments globally, it is likely that 5G<\/a> will soon start to become a reality in India, it said.
Therefore, considering the increased requirements of passive infrastructure during massive 5G rollouts, “the company proposes a higher amount of transactions of up to Rs 20,000 crore per annum with Indus Towers for FY 2025-26. For the preceding years, it will be spending Rs 17,000 annually,” Airtel said.
The filing comes within a week 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 the South Asian nation besides delivering enterprise services.
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