Google, a search engine company led by Sundar Pichai, has reportedly shown interest in buying a five per cent stake in Vodafone Idea Ltd. The company is going to take this step when Facebook has bought a 9.99 per cent stake in Mukesh Ambani-owned Jio platform by investing Rs 43.574 crore.
Vodafone Idea will benefit
If Google buys a five per cent stake in Vodafone Idea, then the debt-ridden telecom company will get financially big relief. According to the report of the Financial Times, this is going to happen, although a company official says that negotiations are going on at a very early stage. In this case, nothing can be said concretely about it.
However, Vodafone and Google have not given any reaction to this report.
According to the report, Google’s parent company Alphabet was also in the race to buy a stake in the Jio platform, but it fell behind due to some reasons. If Google invests in Vodafone Idea, then it will compete with Facebook, as well as it can invest in India in many ways.
Data consumption has increased due to coronavirus lockdown in India for more than two months. Most users are consuming more mobile data than ever before, with most customers turning to digital payment and online shopping.
AGR outstanding of 58000 crores
Vodafone Idea owes AGR of Rs 58000 crore. The company has so far accumulated 6854 crores. Aditya Birla had said clearly on the Supreme Court’s order recently that if the government does not get help, then he will have to shut down the company under compulsion.
