If you remember, only a few weeks ago the US social media giant, Facebook announced to invest $5.7 billion in the company, Reliance Jioin a bid to earn a 9.9% stake in the said business. Soon after it was also reported that Google,another major player in the world of technology is also in talks with Vodafone to buy 5% stake in the company. That’s not where the business ends however,a new report by Reuters has claimed that the US E-commerce giant, Amazon is also in the market and is looking to hop on the bandwagon as it is eyeing to buy 5% stake in Bharti Airtel for $2 billion.As per the report, the sources close to the matter have revealed that both the US-based tech giant and India’s third-largest telecommunication company are already in talks to reach a suitable settlement. Amazon in talks with Airtel to purchase 5% stake in the company.
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It should be noted that Amazon is willing to invest up to $2 billion for a 5% stake in Airtel, however, the deal could either change or even agreement may not be reached according to the sources, time will tell how the direction of the settlement. Moreover, one of the close sources has also cited that if the stake buyout fails, the companies will look at a commercial transaction which may give Airtel customers cheap access to Amazon products which in turn could prove beneficial for both parties. As it stands,both companies have refused to talk about anything regarding the deal when Reuters reached out to them.
These investments from US tech giants may prove beneficial for the suffering carriers in India, who are yet to pay out their AGR (Adjusted Gross Revenue) dues. In addition, these companies will also gain access to one of the largest market in the world to push their products, with that being said let’s see how it all pans out. We shall in that regard keep you up to date with all the latest regarding the matter.
