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Google Considering Buying Stake in Vodafone Idea: Report

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Alphabet’s Google is exploring an investment in Vodafone Group Plc’s struggling India business, the Financial Times reported on Thursday, citing people familiar with the matter.

Google is considering buying a stake of about 5 percent in Vodafone Idea, the FT reported, citing one of the people. The process is at an early stage, according to the report.

Vodafone said it does not comment on market speculation, while Google did not immediately respond to a request for comment.

Last month, Facebook agreed to invest $5.7 billion (Rs 43,574 crores) for a 9.99 percent stake in Reliance Industries’ digital arm, Jio, which competes with Vodafone Idea and Bharti Airtel in India’s fiercely competitive telecom market.

Developing story, check back for more.

© Thomson Reuters 2020



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