Vodafone Idea shoots down buyout reports

Vodafone Idea shoots down buyout reports

India’s Vodafone Idea (Vi) has shot down speculation in the local press that it could be acquired by a US company.

TelecomTalk reports that Indian media had mooted Amazon, Starlink and Verizon as potential buyers for the beleaguered operator, but Vi confirmed in an exchange filing that the reports are inaccurate, stating: “We wish to submit that the said news item is incorrect. The company is not in any such discussion with any of the named parties.”

The rumours were perhaps fuelled by a surge in Vi’s share prices over the past week, which have jumped to a 52-week high. The operator also recently made a sizeable payment to the Department of Telecoms for its 5G spectrum holding, but this is evidently not indicative of a fresh source of external funds.

Sign-up to our weekly newsletter

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE weekly email newsletters for the latest telecom info in developing and emerging markets globally.
Sending occasional e-mail from 3rd parties about industry white papers, online and live events relevant to subscribers helps us fund this website and free weekly newsletter. We never sell your personal data. Click here to view our privacy policy.