Vodafone Idea clarifies on reports of Google eyeing a stake in company

Vodafone Idea today clarified that “currently there is no proposal as reported by the media that is being considered at the board”, with reference to reports that said that tech titan Google was eyeing a minority stake in the British telecom group’s struggling India business.

Reacting to the reports, stock of the company rallied about 35% at day’s high on BSE.

The investment in Vodafone Idea will pit the search giant against Facebook which has picked up a stake in Jio Platforms, the firm that houses India’s youngest but biggest telecom company – Reliance Jio.