Amazon in talks to buy $ 2 billion stake in Bharti Airtel :Report
Mumbai/IBNS: After Facebook acquired 9.99% in Reliance Jio in a bid to grab a lion's share of India's booming digital economy, Amazon.com is also on its way to purchase approximately 5% stake in Bharti Airtel, for which the talks are still in preliminary phase, reported Reuters.
According to the report, Amazon.com is likely to invest $ 2 billion in Bharti Airtel to acquire the stake.
Amazon could end up buying 8-10% stake as the e-commerce platform is weighing several investment options.
If the talks fail, Amazon and Bharti Airtel could tie up to offer Airtel customers cheap access to Amazon's products, said the report.
However, both Amazon and Bharti Airtel have declined to comment on a possible deal between the two.
Apart from Jio and Airtel, Vodafone Idea, too, may ink a deal with Google, Financial Times reported.
Amazon considers India a significant growth market where it has invested $ 6.5 billion to expand its presence.
Bharti Airtel shares traded 3.8% higher after rising 6% following the news of its possible deal with Amazon.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
