The investment would give the tech giant about five per cent of the third-place wireless firm. Amazon could buy a stake as high as eight to 10 per cent, a source told Reuters. Bharti Airtel said it engages with digital firms, but has “no other activity to report.” (Reuters, Economic Times)
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The investment would give the tech giant about five per cent of the third-place wireless firm. Amazon could buy a stake as high as eight to 10 per cent, a source told Reuters. Bharti Airtel said it engages with digital firms, but has “no other activity to report.” (Reuters, Economic Times)
Talking point: Tie-ups between U.S. tech giants and Indian telecom companies are in vogue. The subcontinent’s debt-laden wireless sector needs outside capital after a bruising battle with sector newcomer-turned leader Reliance Jio. U.S. tech firms want access to their hundreds of millions of subscribers as they and Asian rivals try to build domestic startups in which they’ve invested into becoming “super apps” that monopolize smartphone users’ attention and online spending. Google is reportedly considering a stake in Vodafone Idea, the other major carrier. Facebook kicked off the dealmaking in April, when it bought 9.99 per cent of Jio for US$5.7 billion.
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