The E-commerce giant is exploring the possibility of investing in Bharti Airtel. The planned investment is completed then Amazon India will hold a 5% stake in Bharti Airtel valuing to $2 billion. Bharti is the third-largest telecoms in India, having more than 300 million subscribers.
Reliance is at the forefront of attracting investment from companies like KKR, Facebook, and others to a total value of $10 billion. Amazon investing in Bharti Airtel comes as a surprise as most of the big companies are holding their bet in Reliance Jio.
As per media, reports both the companies have denied such claims. An Amazon India spokesperson kept companies side and said, “not offer comments on speculation of what we may or may not do in future.”
Bharti Airtel also said that they work with all the digital platforms to bring their services, product, and content to the end customer.
Google India is also exploring such possibilities to invest in the Indian telecom space. Vodafone is the second-largest telecom in the countries that looks at its choice
Amazon India is all set to enter in all essential services with other brands
Amazon India considers India as a crucial market and looks to invest $6.5 in the E-commerce space. The company in recent years has expanded itself in providing voice-activated speakers, cloud storage, and video streaming. The company looks to harness the large scale infrastructure of the country in the Internet space and gain as much market as possible.
It is important to note that Bharti has recorded 56.42 billion rupees as losses. But there is positive news as the company saw a rise in the revenue the current quarter to 25 % from earlier year per user. The data traffic has also seen an increase as the pandemic Covid -19 had struck, and people are remaining at home.