Vodafone Idea shares zoom on Google stake buy reports

Telecom giant denies any such plans

Shares of Vodafone Idea zoomed 35% on Wednesday’s intraday trade before closing up 12.7% at ₹6.56 on reports of Google buying 5% stake in the company.

The company, however, clarified that currently, there is no proposal as reported by the media that is being considered at the Board. “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 Regulations,” said a company statement adding that currently, there was no proposal as reported by the media that is being considered at the Board.

“We wish to reiterate and clarify the company will comply with SEBI Listing Regulations and duly keep the stock exchanges informed of all the price sensitive information,” the statement added.