Google considering taking stake in Vodafone Idea: Report

A deal with Google could be a lifeline for Vodafone Idea, which owes as much as Rs 54,000 crore in adjusted gross revenue dues to the government.

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Global internet giant Google is looking to buy up to 5 per cent stake in debt-laden Vodafone Idea, the Financial Times reported Thursday. Google’s parent company Alphabet Inc is also looking to buy some stake in Vodafone Idea’s rival Reliance Jio Infocomm, the newspaper reported, without providing details.

The report comes almost a month after social media giant Facebook picked up 9.9 per cent stake for Rs 43,574 crore ($5.7 billion) in Reliance Industries Limited’s (RIL) Jio Platforms. Jio Platforms, a wholly-owned subsidiary of RIL, has since seen investments from global private equity players such as General Atlantic, Silver Lake Partners, Silver Lake Partners and KKR.