international news Agency, Reuters has reported that amazon is in talks with indian Telecom Giant, Bharati airtel to buy a stake worth at least Two Billion. If at all the deal goes through, amazon would acquire a roughly 5 percent stake based on the current market value of Bharti.
The talks between Bharti and amazon are at an early stage and the deal terms could change, or an agreement may not be reached, source says. Both the companies refused to comment on the deal as of now. airtel is India's third-largest telecom company with more than 300 million subscribers. If the deal happens, airtel would emerge as a fierce competitor for reliance Jio.
Despite the projected Economic Slowdown due to the Corona Crisis, this deal will showcase india as a crucial growth market. amazon has already committed $6.5 billion in investments mainly toward expanding its e-commerce footprint. It has also aggressively invested in the OTT sphere. This deal will further expand Amazon's footprint in India. It will also trigger another price war between the Telecom companies. That will benefit the end-users at least for now.
