Google to buy 5 % stake in Vodafone Idea

Highlights :

Google to buy 5% stake in Vodafone Idea
Google gets a cheap entry into the market
A deal with Google could be a lifeline for Vodaphone Idea

Google is looking to buy 5% stake in Vodafone Idea, which owes as much as ₹54,000 crore in adjusted gross revenue dues to the government. A deal with Google could be a lifeline for Vodafone Idea.

On the other hand, Google's parent company Alphabet Inc. is looking to buy some stake in Vodafone Idea's rival Reliance Jio Platforms.

Google Vodafone-Idea deal is a for both.Vodafone Idea needs money to survive and Google gets cheap entry into the market.

Vodafone Idea had 28.4% share of domestic telecom market as of January 2020.

About Google :

Google was founded in September 1998 by Larry Page and Sergey Brin, while they were PhD student at Stanford University.

Together they own 14% of its share and control 56% of the stockholder voting power through supervoting stock.

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