Vodafone Idea-Google deal? Here is truth straight from horse's mouth

A report has indicated that there is a Vodafone Idea-Google deal brewing and that the popular search engine may buy a 5 per cent stake in the telco.

Taking the matter seriously, the BSE sought clarification from the telecom major on the report. Photo: Reuters

A report has indicated that there is a Vodafone Idea-Google deal brewing and that the popular search engine may buy a 5 per cent stake in the telco. This caused Vodafone Idea share price to skyrocket up to 35 per cent in the intraday trade and it finally closed at Rs 6.55, around 13 per cent higher than its Thursday close. Taking the matter seriously, the BSE sought clarification from the telecom major on the report.

However, Vodafone Idea, in a statement, said that "currently there is no proposal as reported by the media that is being considered at the board."

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Vodafone Idea reply to BSE

While replying to the BSE in its exchange filing, Vodafone Idea said, "As part of corporate strategy, the Company constantly evaluates various opportunities for
enhancing the stakeholders’ value. As and when such proposals are considered by the Board of Directors of the Company warranting disclosures, the Company shall comply with the disclosure obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulation”). Currently, there is no proposal as reported by the media that is being considered at the Board."

"We wish to reiterate and clarify the Company will comply with SEBI Listing Regulations and duly keep the stock exchanges informed of all the price sensitive information," Vodafone Idea concluded.

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