Alphabet’s Google is exploring funding in Vodafone Group’s struggling India enterprise, the Monetary Instances reported on Thursday, citing individuals accustomed to the matter.
Google is contemplating shopping for a stake of about 5 % in Vodafone Concept, the FT reported, citing one of many individuals. The method is at an early stage, in keeping with the report.
“Google mother or father Alphabet has additionally held talks about buying a stake in Jio however has lagged behind its rival in securing a deal.
Pursuing Vodafone Concept as a substitute would doubtlessly pit Google towards Fb and a more and more dominant Jio however the firm might additionally make several investments in India,” the FT wrote within the report.
Vodafone mentioned it doesn’t touch upon market hypothesis, whereas Google didn’t instantly reply to a request for remark.
Final month, Fb agreed to make investments $5.7 billion (Rs 43,574 crores) for a 9.99 % stake in Reliance Industries’ digital arm, Jio, which competes with Vodafone Concept and Bharti Airtel in India’s fiercely aggressive telecom market.
Jio has additionally secured investments from Silver Lake, Vista Fairness Companions, Common Atlantic, and KKR. Reuters earlier at the moment reported that the Abu Dhabi state fund can also be in talks with Reliance for attainable funding in Jio.
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