Bharti Airtel up 3% on Amazon interest buzz, pares gain post clarification

Bharti Airtel issued a clarification to the exchanges saying that "no such proposal is currently under consideration"

Shares of Bharti Airtel gained as much as 2.93 per cent to Rs 590 on the BSE on Friday after media reports said that Amazon was looking to buy a stake worth $2 billion in the telecom company.

The Reuters report said that Amazon was in early-stage talks to buy stake worth $2 billion, which would mean a rough 5 per cent stake based on the current market value of Bharti.

The talks between Bharti and Amazon are at an early stage and the deal terms could change, or an agreement may not be reached, the report said quoting unnamed sources. If