May 20, 2024

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Google eyes 5% stake in Vodafone Idea, multiple India investments: Report

World wide technological innovation big Google is in talks to buy five for every cent stake in Vodafone Strategy Ltd, a organization owned by Vodafone PLC of British isles and Aditya Birla team.

The Economic Occasions reported on Thursday that Google guardian organization, Alphabet had also held talks about attaining a stake in Reliance Jio – owned by Reliance Industries — but has lagged guiding other buyers like Fb in securing a deal. By purchasing stake in Vodafone Strategy, Google would pit towards Fb and an progressively dominant Jio, but the organization could also make various investments in India.

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A spokesperson of Aditya Birla team headquartered in Mumbai declined to remark.

Vodafone Strategy has a marketplace valuation of only Rs sixteen,724 crore as on Thursday as in comparison to the valuation of Reliance Jio of $65 billion (Rs 4.87 trillion).

Analysts claimed the transaction will be a lifeline deal for Vodafone Strategy which has been ordered by the Supreme Court docket to pay back Rs fifty three,000 crore altered gross revenues dues to the federal government.

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Jio is also in independent talks to increase an added 2.five for every cent from Microsoft for $2 billion. On April 21, Reliance had introduced sale of ten for every cent stake in Jio Platforms to Fb for $five.7 billion or Rs 43,574 crore.