Amazon Might Buy 5% Stake In Airtel: Report

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Telecom companies are on a stake selling spree, recently Reliance Jio has announced that it has sold more than 17 percent stake to five US firms. Now, it has been reported that Airtel is selling its stake to Amazon.

Amazon Might Buy 5% Stake In Airtel: Report

 

Amazon is likely to invest $2 billion for a 5 percent stake, reports Reuters. The report states that Airtel has more than 300 million customers on its platform. This development comes after investors are buying a stake in Reliance Jio. The telecom operator has raised $10 billion from five investors.

Furthermore, the report said that the talks are on the initial stage, and there are chances that conditions might be changed. However, there is no such information shared by any company. In fact, Amazon said that they do not comment on speculations, while Airtel issued a statement and said this is a routine process, and they work with all digital partners.

"We routinely work with all digital and OTT players and have deep engagement with them to bring their products, content, and services for our wide customer base. Beyond that, there is no other activity to report," Airtel said.

Google Reportedly Plans To Buys Stake In Vodafone-Idea

It seems that all three private players are opting for this way to reduce their debt and to catch up on the ongoing tariff war with Reliance Jio. On the other hand, many reports suggested that Google is also planning to buy a stake in Vodafone-Idea. The search engine giant is likely to 5 percent stake for around $ 101 million.

However, later the operator issued a statement and said, "As part of corporate strategy, the company constantly evaluates various opportunities for enhancing the stakeholders' value". Adding to that, "We wish to reiterate and clarify that the company will comply with SEBI Listing Regulations and duly keep the stock exchange informed of all the price-sensitive information." This news helped the operator a lot as its share prices surged by 30 percent.

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