Amazon is reportedly on its way to buying a huge stake in Bharti Airtel, India's third-largest telecom company. As per a Reuters report, the e-commerce giant is going to invest more than two billion US dollars in Airtel.

This means that Amazon is going to enjoy a 5% stake in Airtel. As per commentators, the deal underscores the growing attraction of the Indian market for digital giants like Amazon and Facebook.

Moneycontrol writes, "The discussions between Amazon and Bharti come at a time when global players are placing major bets on the digital arm of Reliance Industries, which owns Bharti's telecom rival Jio. Reliance's digital unit has raised $10 billion in recent weeks from Facebook, KKR and others."

As of now, the Bharti Airtel-Amazon deal is a matter of speculation, which is yet to be confirmed by the two companies.