Verizon to invest $4 Billion in struggling India telecom Vodafone-Idea

There is a big news coming up for India’s Vodafone-Idea Limited (VODA.NS) regarding magnanimous Investments in the firm. U.S. Wireless Carrier Verizon Communication Inc. and Amazon.com Inc. are all set to invest $4 billion for buying stake in the company.

On Thursday, the Mint newspaper reported, that the Investment of about 14% will be a huge relief on the struggling Indian Telcos firm.

This news will be a huge relief additionally as this news came after The Supreme Court of India ruled that all the listed Telecom companies should clear all their pending dues within 10 years for using RCom spectrum and gave some reprieve to Vodafone-Idea.

Vodafone-Idea which is a joint venture of two British and Indian company such as Vodafone group and Idea Cellular group after getting into AGR due case, owes ($6.8 billion) to Indian government. It is no doubt that Vodafone-Idea is among India’s top three telcom firms by subscribers.

According to full report of Amazon and Verizon are now set to have discussions and negotiations on the Investment as per two sources. Shares in Vodafone Idea were up 9.6% at 10.85 rupees by 0645 GMT.

Financial Express in one of its report mentioned that the Alphabet Inc’s Google was also willing to buy 5% stake in the Vodafone-Idea.

But the Reuters reported as well that Amazon was about to buy stakes in the Vodafone-Idea’s rival Bharti Airtel.

Separately on Thursday, Indian news channel CNBC-TV 18 reported that Vodafone Idea could “take stock” of a sale of its optic fibre business in board meeting scheduled to consider a fundraising plan on Friday.

Read also : Vodafone Idea rallies 14% as Amazon, Verizon look to pick stake