Google is reportedly in talks to buy a 5 per cent stake in Vodafone Idea Limited.
Taking into account Vodafone Idea’s current market valuation of Rs 167.24 billion, Google may end up buying the stake for $110 million.
According to industry sources, Google’s parent firm, Alphabet was earlier seeking a large stake in Reliance Jio, but lost out to Facebook in closing the deal. Thus, pursuing Vodafone Idea instead would potentially pit Google against Facebook and an increasingly dominant Jio, but the company could also make multiple investments in India.
Vodafone Idea, however, has not confirmed of receiving any such proposal.