E-commerce company Amazon may invest at least two billion dollars in telecom company Bharti Airtel. Three sources related to the case said that if the deal happens, it will accelerate the Indian digital economy and increase competition in the troubled telecom sector. According
sources in the initial stage, if the potential investment is completed, it is believed that Amazon can buy a five percent share on the current market of Airtel. Airtel is the third-largest telecom company in India. Two sources in three told that the talks are in the initial stage. The terms of the deal may change or the agreement may not be completed. The deal comes at a time when global companies are placing heavy bets on Airtel’s rival Jio platforms. There will be relief in repaying debt
Actually, Airtel owes AGR of 25,000 crores even after payment of Rs 10,000 crore. In such a situation, if the deal with Amazon is completed, then the company will get Rs 15,000 crore. With which Airtel can get relief in debt payment. Recently, Bharti Telecom sent a 0.60% stake of Airtel to Societe General for 8,433 crores.
India is an important market for Amazon. Here it has committed to invest $ 6.5 billion. However, an Amazon spokesperson says the company does not comment on future speculation. At the same time, Airtel said that the regular job of all digital companies is to deliver their products, content, and services to customers. There is no other activity to explain.
The decision on Indus-Bharti Infra on 11
Indian Infratel said on Thursday that no decision has been taken on its merger with Indus Tower. A final decision on this will be taken at the board meeting to be held on June 11. The company said in a statement whether the merger would be completed or not. There is no certainty on this yet.