Shubham Jaiswal ([email protected])
Google Inc. is considering picking a stake of about 5% in Vodafone Idea Ltd, said a person aware of the development.
The telecom joint venture of Vodafone Group Plc and the Aditya Birla Group is also in talks with private equity firms for potential investments, the person said seeking anonymity.
A spokesperson for Vodafone Idea did not comment while Google did not immediately respond to email queries.
According to the average price of the Vodafone Idea stock in the past two weeks, a 5% stake sale could fetch the company around $101.5 million. The stock has lost more than 57% in the past 12 months. To be sure, an eventual deal could happen at a significant premium to the recent stock price.