Popular e-commerce website Amazon is in the early stage to purchase stakes worth $2 billion in Indian telecom brand Bharti Airtel. This means that Amazon would be acquiring 5%stakes in Bharti Airtel as per the current market value of the company. With more than 300 million subscribers, Bharti Airtel is India’s third-largest telecom company. Three sources with knowledge of the matter told international news agency Reuters, underscoring the growing attraction of India’s digital economy for U.S. tech giants.
However, while interacting with Reuters, a spokeswoman from Amazon said, “not offer comments on speculation of what we may or may not do in future.”
Bharti Airtel says that they work with all digital players to serve their products, services and contents to customers. In a statement, Bharti Airtel said, “Beyond that, there is no other activity to report.”
In recent times, Bharti Airtel’s rival Reliance Industries Limited’s Jio raised $10 billion from Facebook and others.
Amazon provides a variety of services in India like cloud storage, video streaming, voice assistant, voice-activated speakers and e-commerce. It has committed $6.5 billion in investments towards expanding its e-commerce footprint in India.
