The battle for a pie in India’s burgeoning telecom market heated up with reports suggesting that ecommerce major Amazon is reportedly in talks with Bharti Airtel to pump in $2 Bn in one of India’s leading telecom business.
According to sources quoted in a report by Reuters, Amazon is eyeing India’s digital economy with this investment in the telecom business. If completed, the transaction will give Amazon a roughly 5% stake based on the current market value of Airtel. As of now, Airtel has around 300 Mn telecom subscribers and is currently the third-largest telecom company in India, only before Reliance Jio and Vodafone Idea.
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