Bharti Airtel share price: No jump today as telco sends statement on $2 bn Airtel-Amazon deal report to SEBI
Bharti Airtel share price was expected to skyrocket in today's trade after the newsbreak of Amazon being in talks with Bharti Airtel to buy a $2 bn stake, but that didn't happen in the opening trade session.
Bharti Airtel share price: The Indian telecom major share price was expected to skyrocket in today's trade after the newsbreak of Amazon being in talks with Bharti Airtel to buy a $2 bn stake, but that didn't happen in the opening trade session. In fact, Bharti Airtel share price opened around 1.25 per cent higher from its close yesterday and finally at the time of writing this report, it was up by just under 1 per cent. Why? Reason behind this is Bharti Airtel filing a statement with SEBI on the reports of Airtel-Amazon deal. The Indian telecom major has made it clear to the market regulator that currently there is 'no such proposal in consideration.'
In its exchange filing to the SEBI, Bharti Airtel clarified, "This is with reference to the news item titled 'Amazon in talks to buy $2 Bn. stake in Indian telco Bharti Airtel' published in media on June 04, 2020. In this regard, it is clarified the Company routinely works with all digital and OTT players and has deep engagement with them to bring their products, content and services for our wide customer base. Beyond that, there is, at this stage, no such proposal in consideration."
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Raising concern over such reports, Bharti Airtel said, "We are concerned with such media reports which are published despite appropriate timely clarifications by the respective companies. Such speculative reporting while moving the stock price leads to unwarranted consequences and can result in reputational impact. We urge you to take adequate steps to deal with such practices which of late have become a regular pattern especially in the telecom sector."
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