Amazon in rumors to buy a stake in Bharti Airtel of Worth at least $2 Billion(Rs.15109 crores approx.). If the planned investment completed, it would mean Amazon acquiring a roughly 5% stake in Bharti Airtel based on the current market value of the company. Through this move Amazon and Airtel, both companies will try to tackle the Jio In India in the telecom sector.
Bharti Airtel is India’s third-largest telecoms company with more than 300 million subscribers. According to the reports, three sources with knowledge of the matter told Reuters, underscoring the growing attraction of India’s digital economy for U.S. tech giants.
As, Jio has transformed itself from a pure mobile operator to a digital technology-led consumer-facing platform, Airtel can also do the same said one of the reports.
Over the past few weeks, Reliance Jio raised $10 billion (Rs. 75,550 crores approx.) from global investors including Facebook as jio seeks to establish itself as a one-stop digital commerce platform.
According to the reports last week, Alphabet’s Google is also looking for an investment in Vodafone Idea, a joint venture between Britain’s Vodafone Group and India’s Idea Cellular.
Vodafone Idea is India’s second-largest telecoms company. The company is also looking for expanding its business as the coronavirus lockdown has led to a surge in demand for online shopping, entertainment, and data.
Here are some of the Highlights of the rumored Amazon-Airtel Deal:-
- According to the report, Amazon will invest about $2 billion in Airtel.
- The deal will give Amazon a roughly 5 percent stake in Bharti Airtel.
- This deal will turbocharge India’s digital economy.