Google eyes 5 pc stakes in Vodfone Idea By Elets News Network - 28 May 2020

Google eyes

Global tech giant Google is exploring an investment in Vodafone’s India business. The new move could pit the US internet group in a battle against Facebook, for the world’s fastest-growing mobile market.

Google eyes

Google was considering buying stake of about 5% in Vodafone Idea, a partnership between the UK telecoms firm and Aditya Birla Group. The Vodafone Idea has been under severe financial strain from last few months.

Recently, Reliance Industries’ Jio owned by Asia’s richest man Mukesh Ambani  has secured more than $10 billion in investment from Facebook and private equity groups including KKR, General Atlantic, Vista Equity Partners and Silver Lake.

On Tuesday, Bharti Airtel’s parent raised $1.1 billion in a share sale after the company’s stock price hit an all-time high.

Jio is also in separate talks to raise an additional 2.5 per cent from Microsoft for $2 billion. On April 21, Reliance had announced sale of 10 per cent stake in Jio Platforms to Facebook for $5.7 billion or Rs 43,574 crore.

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