Bharti Airtel clarifies that there is no proposal from Amazon to buy stake

Telecom giant Bharti Airtel on Friday in a BSE filing clarified that a news item titled ‘Amazon in talks to buy $2 Bn. stake in Indian teleco Bharti Airtel was an incorrect report with the company reporting that such reports were harmful to its reputation as it leads to unwarranted consequences because of the stock price moving.

Airtel in its submission said that it was routinely working with all digital OTT players to have a deep engagement and bringing their products, contents and services for its wide customer base. Bharti Airtel said that there was no such proposal in consideration right now from Amazon to buy a stake in Airtel.

Bharti Airtel expressed its concern at media reports which was published despite appropriate timely clarifications by the companies. Airtel has noted that speculative reporting while moving the stock price leads to unneeded consequences which in turn results in reputational impact.

Bharti Airtel has called on the BSE to look into the matter and take adequate steps to deal with such practices which it states has become a regular occurrence in the telecom sector.