Alphabet’s Google is Researching an investment in Vodafone Group’s Fighting India Company, the Financial Times reported Thursday, citing people Knowledgeable about the matter.
Google is considering purchasing a stake of roughly 5% from Vodafone Idea, the FT reported, citing among those folks. The process is in an early period, according to the report.
“Google parent Alphabet has also held discussions about acquiring a bet in Jio but has lagged behind its rival in procuring a bargain. Pursuing Vodafone Idea rather would possibly pit Google from Facebook and an increasingly dominant Jio however, the business could also create numerous investments in India,” the FT composed in the report.
Vodafone stated it doesn’t comment on market speculation, whilst Google didn’t immediately respond to a request for comment.
Last month, Facebook consented to spend $5.7 billion (Rs 43,574 crores) to get a 9.99 percent stake in Reliance Industries’ digital arm, Jio, that competes with Vodafone Idea and Bharti Airtel at India’s fiercely competitive telecom industry. Reuters earlier now reported the Abu Dhabi state finance can be in talks with Reliance for a potential investment in Jio.