- Google is reportedly mulling a move to buy stake in Vodafone India
- Any such deal would be of great help to Vodafone which is facing mounting losses in the country
- The move comes on the backdrop of Facebook buying stake in Reliance Jio
In what will come as welcome news to many, one of the biggest tech giants of the world, Google, is reportedly mulling an investment in Vodafone's India business. Over the last few months, the telecom operator has been struggling with mounting losses, that now run into thousands of crores.
While any investment in its business by Google will definitely come as good news for Vodafone-Idea, it will also be of great interest globally as it would pit the company against Facebook which had recently announced an investment in the country's biggest telecom operator, Reliance Jio.
The move would thus see Facebook and Google fight it out for supremacy in the world's fastest-growing telecom market which is only projected to keep growing in the years to come. As per a Financial Times report, Google will be buying a stake of about 5 per cent in Vodafone-Idea, however, it also adds that the deal is currently is in the very early stages, thus hinting that there could be changes in the final terms of the deal.
The news about Google's reported interest in Vodafone's business in India comes on the backdrop of Facebook securing a multi-billion dollar stake in Reliance Jio. The deal is believed to be worth $5.7 billion and includes Facebook buying 10 per cent shares of the company.
Interestingly though, much before Facebook finalised the deal with Jio, there were also reports that Google had shown interest in securing a stake in Reliance Jio. The tech giant had been reported to be in talks to buy a similar stake in India's largest telecom operator.
If the report is true, and Google is technically making its second attempt at getting a foothold in the telecom sector of the country, then it only goes to show the strong appeal the world's second-biggest telecom market still enjoys globally. And understandably so! With hundreds of millions of active subscribers, India's telecom sector is ready to explode, and it's only fair that tech giants such as Google and Facebook would want to be a part of it.