Sunil Bharti Mittal the founder of Bharti Airtel is reportedly preparing for a significant acquisition. According to media reports Mittals company is in talks to purchase a 49% stake in the Indian unit of China-based Haier Smart Home. The deal for Rs 16800 crore and he is also facing competition from Mukesh Ambanis Reliance Industries. To complete this transaction Mittal has partnered with private equity firm Warburg Pincus. After this acquisition Mittals will enter into the consumer electronics market. Haier Plans To Sell Up To 49% Stake Earlier reports in October revealed Haiers plan to sell between 25% and 49% of its Indian unit. Other companies like Singapores Temasek Holdings GIC and Abu Dhabi’s sovereign wealth fund Mubadala Investment are also interested in the deal. Haier India makes products like refrigerators washing machines televisions and air conditioners with sales of Rs 8900 crore in 2024. The company saw over 30% growth in revenue in South Asia during the first quarter of this year as compared to the previous year. Haier holds a 21% share in Indias refrigerator market which is the third-largest consumer electronics company in the country after LG and Samsung. Mukesh Ambani Joins Race Mukesh Ambanis Reliance Industries has also entered the race to acquire a stake in Haier India. Reliance already deals in the consumer electronics sector through brands like BPL and Kelvinator. Haier has appointed Citibank to manage this stake sale process. As Ambani and Mittal both are competing for this acquisition the deal will bring major changes for India’s consumer electronics sector. If Mittal finalizes this acquisition it will add another sector in his business portfolio. His current net worth shared with his family is around $28 billion according to Bloomberg Billionaires Index.