Worldwide Technology Giant Google is the primary stage of negotiations to buy a 5 percent stake in Vodafone Idea Ltd, a joint venture company jointly owned by the Aditya Birla Group and Vodafone PLC of the United Kingdom.
As per media sources, the news was buzzing on Dalal street that Google parent company, Alphabet had likewise held discussions about procuring a stake in Reliance Jio – possessed by Reliance Industries – yet has lingered behind different speculators like Facebook in making sure about an arrangement. By purchasing a stake in Vodafone Idea, Google would set in opposition to Facebook and an inexorably prevailing Jio, however, the organization could likewise make a couple of massive investments in India.
A representative of the Aditya Birla group headquartered in Mumbai declined to remark.
As of late, Reliance Industries’ Jio — claimed by Asia’s most extravagant man Mukesh Ambani — has made sure about more than $10 billion in the venture from Facebook and private value gatherings
Vodafone Idea has a market valuation of just Rs 16,724 crore as on Thursday when contrasted with the valuation of Reliance Jio of $65 billion (Rs 4.87 trillion).
Industry experts and market veterans said the exchange will be a lifesaver bargain for Vodafone Idea which has been requested by the Supreme Court to pay Rs 53,000 crore adjusted gross revenue duty to the legislature.
Jio is likewise in independent converses with raise an extra 2.5 percent from Microsoft for $2 billion. On April 21, Reliance had declared an offer of a 10 percent stake in Jio Platforms to Facebook for $5.7 billion or Rs 43,574 crore.
Google is investigating interest in Vodafone’s India business in a move that could pit the United States web bunch in a fight against Facebook for the world’s quickest developing technology market.
Google was thinking about purchasing a stake of about 5% in Vodafone Idea, an association between the United Kingdom telecoms organization and Aditya Birla Group that has been under serious budgetary strain and liquidity pressures, the report said.
As of late, Reliance Industries’ Jio — claimed by Asia’s Richest Man Mukesh Ambani — has made sure about more than $10 billion in speculation from Facebook and private value bunches including KKR, General Atlantic, Vista Equity Partners, and Silver Lake.
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On Tuesday, Bharti Airtel’s parents brought $1.1 billion up in an offer deal after the organization’s stock value hit a record-breaking high.
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In the organization’s post-earnings conference call, Bharti Airtel’s Chief Financial Officer (CFO) Badal Bagri said the telecom segment was huge enough to oblige three players.
“On Vodafone, I think my view is that they will remain and I wish that they flourish. India needs a three-player market and it’s an enormous enough commercial center to retain three players. I figure it will be accepted from all viewpoints — venture, employment, and reputation that Vodafone endures and flourishes and I have almost certainly that they will do as such,” he said.