Amazon is in "early-stage talks to buy a stake worth at least $2 billion in Bharti Airtel, India's third-largest telecom company, news agency Reuters reported quoting three sources with knowledge of the matter. The investment would mean Amazon acquiring a roughly 5 percent stake based on the current market value of Bharti, which has over 300 million subscribers.

Quoting two of the three sources, the report said that talks between Bharti and Amazon are at an "early stage" and that the deal terms "could change", or an agreement "may not be reached".

Meanwhile, Bharti said they routinely work with all digital players to bring their products, content, and services to customers. "Beyond that, there is no other activity to report," it said in a statement.