Google Might Take Five Percent Stake In Vodafone IdeaTop Stories

May 28, 2020 20:29
Google Might Take Five Percent Stake In Vodafone Idea

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On Thursday, the Financial Times reported that Google is looking at investing in Vodafone since its business is having a tough time. Google plans on purchasing 5 percent stake in Vodafone Idea. According to a report, the process has started and in its initial stage.

Besides, Google Alphabet has had talks about buying a stake in Jio. However, it didn’t happen as it was not successful in getting a deal with its rival.

Further, it chose Vodafone Idea and this wouldpit Google against Facebook and Jio but multiple investments can be made in India, says FT in one of its reports.

According to Vodafone, they do not comment on market speculation. To this, Google didn’t respond or request for any comments either.

In the telecom market, Jio competes with Vodafone Idea and Bharti Airtel. A month back, Facebook agreed to make an investment of about $5.7 billion (Rs 43,574 crores) for a 9.99 percent stake in Reliance Industries' digital arm, Jio,

The other investments secured by Jio are Silver Lake, Vista Equity Partners, General Atlantic, and KKR. Jio is all over the world and everyone is looking at making an investment in Jio.

According to Reuters, even Abu Dhabi state fund is looking forward to invest in Reliance Jio.

By Neha Makhija

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Google  Vodafone Idea  Investments