Categories: Business

Google searching for 5 percent in Vodafone idea says a report



new Delhi. Global technology company Google may buy a small stake in Vodafone Idea business in India. According to a report in the Financial Times on Thursday, Google may buy a five percent stake in telecom company Vodafone Idea Limited. However, both companies declined to comment on this.

Recently, Google's rival company Facebook has bought a large stake in Mukesh Ambani-led digital company Jio Platforms. Jio Platforms operates Reliance Jio, the country's newest telecom company. Facebook is going to buy a 9.99 percent stake for $ 5.7 billion.

Jio is competing against Vodafone Idea and Bharti Airtel. Recently, Vodafone Idea is the most under pressure in AGR case. The debt burden on the company has increased significantly. Vodafone India was already under pressure due to the price war that started with the launch of Jio, the Corona crisis has also affected its business. The net debt on the company is more than 1 lakh crore rupees, while the AGR dues are 45 thousand crore rupees. At the same time, it is behind other companies in terms of revenue per customer.

This post was published on May 29, 2020 10:15 am

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