Global technology giant Google is in talks to buy a 5 per cent stake in Vodafone Idea Ltd, said a person aware of the development. after the Facebook-Jio combine for the world’s fastest-growing mobile market.
About Vodafone Idea: Vodafone Idea Limited is an Indian telecom operator with its headquarters based in Mumbai, Maharashtra and Gandhinagar, Gujarat. Vodafone Idea is a pan-India integrated GSM operator offering 2G, 3G and 4G, 4G+ and VoLTE mobile services under two brands named Vodafone and Idea.
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|Revenue||₹378,236 million (US$5.3 billion) (2019)|
|₹-192,243 million (US$−2.7 billion) (2019)|
|₹-145,711 million (US$−2.0 billion) (2019)|
|Total assets||₹2,296,995 million (US$32 billion) (2019)|
|Total equity||₹596,348 million (US$8.4 billion) (2019)|
|Owners||Vodafone Group (45.1%)
Aditya Birla Group (26.0%)
Axiata Group Berhad (8.17%)
Private Equity (20.73%)
(31 December 2019)
Number of employees
About Google: Google LLC is an American multinational technology company that specializes in Internet-related services and products, which include online advertising technologies, a search engine, cloud computing, software, and hardware. It is considered one of the Big Four technology companies alongside Amazon, Apple, and Microsoft.
Why Google want to Invest in Vodafone Idea?
A spokesperson for Vodafone Idea did not comment while Google did not immediately respond to emailed queries.
As per the normal cost of the Vodafone Idea stock in the previous fourteen days, a 5% stake deal could get the organization around $101.5 million. The stock has lost over 57% in the previous a year. Undoubtedly, an inevitable arrangement could occur at a huge premium to the ongoing stock cost.
Google’s enthusiasm for Vodafone Idea comes during a period of money related weight on the Mumbai-based organization in the midst of modest portable levies and solid rivalry that strengthened with the passage of Reliance Jio Infocomm Ltd in September 2016.
Facebook last month announced a $5.7 billion investment in Vodafone Idea’s rival Jio Platforms, which houses the digital assets of Reliance Industries Ltd.
So far, telecom and internet firms were independently trying to woo the Indian data user base, but the Jio-Facebook deal has paved the way for larger possibilities.
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