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Google considering taking stake in Vodafone Idea - FT

Reuters
·1-min read
FILE PHOTO: A 3D printed Google logo is seen in this illustration taken

(Reuters) - Alphabet Inc's Google is exploring an investment in Vodafone Group Plc's struggling India business, the Financial Times reported on Thursday, citing people familiar with the matter.

Google is considering buying a stake of about 5% in Vodafone Idea, the FT reported, citing one of the people. The process is at an early stage, according to the report. (https://on.ft.com/2M2iVZA)

Vodafone said it does not comment on market speculation, while Google did not immediately respond to a request for comment.

Last month, Facebook Inc agreed to invest $5.7 billion for a 9.99% stake in Reliance Industries' digital arm, Jio, which competes with Vodafone Idea and Bharti Airtel Ltd in India's fiercely competitive telecom market.

(Reporting by Neha Malara in Bengaluru; Editing by Anil D'Silva)