Google considering acquiring 5% stakes in Vodafone Idea, reports Financial Times

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

Reuters May 28, 2020 20:52:25 IST
Google considering acquiring 5% stakes in Vodafone Idea, reports Financial Times

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

Google considering acquiring 5 stakes in Vodafone Idea reports Financial Times

Representational image. Reuters

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 Inc agreed to invest $5.7 billion for a 9.99 percent stake in Reliance Industries’ digital arm, Jio, which competes with Vodafone Idea and Bharti Airtel Ltd in India’s fiercely competitive telecom market.

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