Amazon in talks to buy 5% stake worth $2 billion in Bharti Airtel.
Amazon.com is in early-stage talks to buy a stake worth at least $2 billion in mobile operator Bharti Airtel, in a move that could turbocharge India’s digital economy.
The planned investment, if completed, would mean Amazon acquiring a roughly 5 per cent stake based on the current market value of Bharti and would give India’s third-largest telecom company a boost as it seeks to compete against the number one player Reliance Jio.
Amazon had been mulling several investment options, including buying a stake worth up to 8-10 per cent.
The talks between Bharti and Amazon are at an early stage and the deal terms could change, or an agreement may not be reached.