CURRENT AFFAIRS

Detailed explanation-1: -Q. Which organization received over 7.1 crore equity shares from telecom provider Bharti Airtel at a cost of Rs 734 apiece? Notes: Telecom operator Bharti Airtel has allotted over 7.1 crore equity shares to internet major Google for Rs 734 apiece.

Detailed explanation-2: -As part of the collaboration, Airtel will partner with Meta and STC (Saudi Telecom Company), to extend the world’s longest subsea cable system, 2Africa Pearls, to India. The plan to extend 2Africa Pearls to India was announced by Meta in September 2021.

Detailed explanation-3: -Bharti Airtel: Upside Potential 25.2% | Target Price: 1,010 "Airtel Africa has consistently delivered strong earnings growth over the last 3–4 years, with a  20% CAGR over FY19–22. A strong balance sheet with low leverage and healthy FCF further adds to the strong capabilities.

Detailed explanation-4: -The allotment is part of Google’s commitment to invest $1 billion with Airtel, which included equity investment in the company worth $700 million, about Rs 5,224 crore, Airtel said in a regulatory filing.

Detailed explanation-5: -Bharti Airtel had last split the face value of its shares from Rs 10 to Rs 5 in 2009.