Vodafone Idea soars 35% on reports Google eyeing stake in telco

Kolkata | Mumbai: Shares of Vodafone Idea surged nearly 35% in intraday trade on Friday, before paring some gains after the company clarified late afternoon that there was no proposal before its board of a stake sale to US internet major Google as reported in the media.

The Financial Times reported Thursday that Google is in initial talks to buy a 5% stake in the cashstrapped Indian telco, boosting Vodafone Idea’s shares to an intraday high of ₹7.85 on the BSE Friday. The stock though closed at ₹6.56, up 12.7%.