Google eyes entry into Indian telecom market with 5% stake purchase in Vodafone Idea: Report
Any such investment could prove to be a breather for Vodafone Idea, which has been reeling under increasing financial stress.
May 28, 2020 / 05:24 PM IST
Vodafone Idea (Image: Reuters)
After Facebook, tech giant Google is now looking to enter India's telecom market with a 5 percent stake purchase in Vodafone Idea, according to a report in Financial Times.
The report said that Google is looking to make an investment in the embattled Indian telecom company. Any such investment could prove to be a breather for Vodafone Idea which has been reeling under increasing financial stress. Vodafone Idea is a product of a 2018 partnership between the Aditya Birla Group and UK-based Vodafone Group.
The news comes soon after Facebook made its debut in the world's fastest-growing telecom market through its 9.99 percent stake purchase in Jio Platforms.
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The company has of late raised as much as $10 billion in investments from private equity groups including KKR, General Atlantic, Vista Equity Partners and Silver Lake, in addition to its deal with Facebook.