Reuters, The world’s largest e-commerce company Amazon will soon invest five percent in Indian Telco Airtel. It is said that talks are underway for this. However, Airtel said it has not yet made a decision.Reuters quoted a source as saying that Amazon was investing about $20 million in the Indian telecom company. Airtel is the third largest company with more than 300 million customers.
Reason behind Amazon’s Interet on Airtel
Facebook has bought a 10% stake in Reliance Jio, India’s largest mobile phone company. Apart from this, other companies including KKR have also invested in Geo. Google will also invest five percent in Vodafone Idea.
Two out of three sources told Reuters that the understanding between Indian Airtel and Amazon could change or the talks could end without a conclusion. An Amazon spokesman said he could not comment on any of the issues, which may or may not happen in the future.
Airtel, on the other hand, has said that it has always been in touch with digital players to bring their products, services and services. He said he could not comment on any other conversations. Amazon is committed to investing 6.5 billion soon to strengthen its presence in India so that it can remain number one in the world.