A positive thing for Vodafone Idea, burdened with the New Delhi AGR dues, has come out. The tech giant is considering investing in Google’s Vodafone Concept according to the Financial Times article. Recently , Facebook has purchased 10 per cent of Jio ‘s stake and is making rapid mobile market progress. Bearing this in mind, by investing in Vodafone, Google also wants to establish its reach in that market.
According to Google’s study, Google will buy 5 per cent of Vodafone Idea shares. In India, UK-based Vodafone has undergone a protracted poor financial situation. After the Supreme Court order on AGR dues the financial condition of the company became more critical. Increasingly, its customers adopt other telecom services.
AGR rules unpaid of 58,254 crore Vodafone Idea owes AGR 58,254 crore to be made in 10 minutes from today. The business has racked up 6854 crores so far. Recently, Aditya Birla had claimed explicitly on the order of the Supreme Court that if the government does not get support, then under pressure he would have to shut down the company. Microsoft will now invest $2bn in Jio as Voda-Id