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.
Also Read | Here are all the companies that invested in Jio Platforms since Facebook deal
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
