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Amazon in talks with Airtel to acquire stake

The tech giant is reportedly in early-stage talks to buy a stake worth at least $2 billion

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MUMBAI: The Indian telecom industry may become a hotbed of deep-pocket foreign investors as  Amazon is reportedly in early-stage talks to buy a stake worth at least $2 billion in Bharti Airtel.

According to a Reuters' report, if talks go well, Amazon will be acquiring a roughly five per cent stake based on the current market value of Airtel. Recently, Facebook invested Rs 43,574 crore in Jio Platforms. In addition to that, Google is also considering to buy a five per cent  stake in Indian telecommunications provider Vodafone Idea.

According to the report, the talks between Bharti and Amazon are at an early stage and the deal terms could change. There are even chances that the talks will not come to fruition.

"We routinely work with all digital and OTT players and have deep engagement with them to bring their products, content and services for our wide customer base. Beyond that there is no other activity to report," Airtel said in a statement.
 

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