Vodafone Idea Denies Reports Of Likely Stake Sale Talks With Google
On Friday, Vodafone Idea shares rose 12.71% to Rs 6.56 apiece on the BSE on reports of a likely stake sale deal with Google.
Amid reports that Google is eyeing a 5% stake in the company, Vodafone Idea said on Friday it constantly evaluates various opportunities but there is no proposal before the board of the firm as yet.
Vodafone Idea’s clarification to the Bombay Stock Exchange came a day after reports that Alphabet Inc.'s Google is eyeing about 5% stake in the telecom company.
"As part of corporate strategy, the company constantly evaluates various opportunities for enhancing stakeholders' value,” the company said. “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.”
There is "no proposal" as reported that is being considered at the board, it added.
"We wish to reiterate and clarify that the company will comply with SEBI listing regulations and duly keep the stock exchanges informed of all price-sensitive information," it said.
On Friday, Vodafone Idea shares rose 12.71% to Rs 6.56 apiece on the BSE while the benchmark Sensex gained 0.69% to end the day at 32,424.10 points.