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Amazon in talks to buy $2bn stake in Indian mobile operator Bharti Airtel
- Thursday | 4th June, 2020
NEW DELHI/HONG KONG (Reuters) – Amazon.com is in early-stage talks to buy a stake worth at least $2 billion in mobile operator Bharti Airtel, three people with knowledge of the discussions told Reuters, in a move that could turbocharge India’s digital economy. “Jio has transformed itself from a pure mobile operator to a digital technology-led consumer-facing platform, and Airtel can do the same,” said one of the people. Shares in Bharti closed 3.8% higher after rising as much as 6% on news of the Amazon talks. US TECH INTERESTThe discussions between Amazon and Bharti underscore the attraction of India’s digital economy for US tech giants. Amazon counts India as a crucial growth market where it has committed $6.5 billion in investments mainly toward expanding its e-commerce footprint.
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