Amazon.com is in talks to buy stake worth at least $2 billion in Bharti Airtel, news agency Reuters quoted a source as saying. If the deal comes through, the US company will acquire roughly 5% stake based on the current market value of Bharti, the agency said. The company is the third-largest telecom company in India with over 300 million subscribers.
Earlier Bharti’s telecom rival Jio, which belongs to Reliance Industries, had raised $10 billion from Facebook, KKR and others. There were also reports of Google acquiring a stake in Vodafone-Idea, a move that the latter had denied.The agency quoted an Amazon spokeswoman as saying that the company does “not offer comments on speculation of what we may or may not do in future.”
Bharti said they routinely work with all digital players to bring their products, content and services to customers, the agency quoted. “Beyond that there is no other activity to report,” it said in a statement to the agency.