Today's business news headline-Legendary E-commerce platform Amazon can invest two billion dollars in Sunil Bharti Mittal's company Bharti Airtel.
According to today's business news headline- Amazon is in talks with Airtel to recruit for this investment.
The conversation is still at an early stage. This shows the growing interest of American e-commerce in the Indian digital consumer market. The market capitalization of recruitment Airtel is 3.1 lack crore. With the investment of two billion dollars, Amazon can get around a 5% stake of Airtel at the current share price.
As mentioned in the business current news, Recently, the social media platform Facebook had made a huge investment in Mukesh Ambani's company Jio Platform with a 9.99 percent stake. The Jio platform operates Jio, a competitor of Bharti Airtel. Various world companies have also invested in the Jio platform.
On Thursday, at the end of the trading session on the BSE, the Indian Airtel stock saw a jump of about 6 percent. However, the shares of the telecom company gained 3.89 percent to close at Rs 573.15 as mentioned in today's business news headline. The company's stock rose to an all-time high of Rs.585 in day trading.
Due to AGR dues, there is pressure on the balance sheet of the country's leading telecom companies Recruitment Airtel and Wadaphone Idea. Both companies are also getting tough competition from the new company Reliance Jio. This has resulted in a drastic reduction in the number of consumers of both companies.
According to the business news of the week, recently, Airtel's promoter company Bharti Telecom sold a 2.75% stake in Bharti Airtel to reduce debt. Bharti Airtel can help reduce the huge debt of $ 15.7 billion due to the alleged investment from Amazon.
Recently, Jio has also made some investment deals to reduce the debt on the plot. Bharti Airtel is the third-largest telecom company in the country. Airtel has more than 300 million subscribers. India is an important market for Amazon. Amazon has committed to invest $ 6.5 billion in India to expand its business.
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