Tue. Oct 20th, 2020

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Bharti Airtel clarifies on reports of Amazon in talks to buy stake in company

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Bharti Airtel today issued a clarification on reports that citing sources said that Amazon is in talks to buy a stake in the telecom company for at least $2 billion. Bharti Airtel said in a statement said at this stage, “no such proposal in consideration”, referring to the report as “speculative.”

Over the past six weeks, Jio, the digital arm of Reliance Industries, has raised 87,655 crore from global investors including Facebook as it seeks to establish itself as a one-stop digital commerce platform.

Jio Platforms has raised 87,655 crore from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.

Jio today announced that Abu Dhabi-based sovereign investor Mubadala will invest 9,093 crore in Jio Platforms at an equity value of 4.91 lakh crore and an enterprise value of 5.16 lakh crore. Mubadala’s investment will translate into a 1.85% equity stake in Jio Platforms on a fully diluted basis.

Alphabet Inc’s Google is also exploring an investment in Vodafone Idea, a joint venture between Britain’s Vodafone Group Plc and India’s Idea Cellular, the Financial Times reported last week.

 

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