Vodafone Idea: No proposal before Board on stake sale to Google, but evaluating various opportunities

The Financial Times had reported that Google was exploring to buy a 5% stake in Vodafone Idea.

MUMBAI: Vodafone Idea Friday said that there is no proposal currently before its Board of a stake sale to US internet major Google, but added that the telco constantly evaluates opportunities.

“Currently, there is no proposal as reported by the media that is being considered at the Board,” the operator said in a notice to the stock exchanges.

The statement was put up when a clarification was sought on an ET article that detailed out a report by The Financial Times on Google exploring buying a 5% stake in Voda Idea stake. The new propelled the Vodafone Idea stock over 34% higher to an intraday high of Rs7.85.

But the stock pared its gains after the telco's clarification to BSE.

“As part of corporate strategy, the Company constantly evaluates various opportunities for enhancing the stakeholders’ value. As and when such proposals are considered by the Board of Directors of the Company warranting disclosures, the Company shall comply with the disclosure obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulation”),” added the operator," Vodafone Idea said.