Amazon eyes $2 billion stake in Bharti Airtel after Facebook picks equity in Reliance Jio

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Amazon eyes $2 billion stake in Bharti Airtel after Facebook picks equity in Reliance Jio

US-based Amazon is reportedly in talks with Bharti Airtel to buy equity stake worth as much as $2 billion in Sunil Bharti Mittal’s telecom firm, as American tech giants find growing attraction for India’s digital consumer market. While Bharti Airtel and Amazon are in discussions, the deal is not concrete as an agreement may not be reached, two of the three sources said. Amazon said that it does “not offer comments on speculation of what we may or may not do in future,” a spokeswoman said. 

The planned investment, if completed, would mean Amazon acquiring a roughly 5% stake based on the current market value of Bharti and would give India’s third-largest telecoms company a boost as it seeks to compete against the number one player Reliance Jio.

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