Vodafone Idea is not in talks to tie-up with billionaire Elon Musk's satellite internet unit Starlink, the Indian telecom operator said on January 2, sending its shares down 5%.
ADVERTISEMENT
The clarification from Vodafone Idea came after its stock surged in the past two sessions on what BusinessWorld said were "markets betting" that Mr. Musk was looking to buy a stake in the company to help Starlink enter India.
On Jan. 1, the Bombay Stock Exchange, where Vodafone Idea's stock is listed, had asked the company for a clarification, citing the report.
"We would like to submit that the company is not in any such discussion with the named party. We are not aware of the basis of the said news item," Vodafone Idea said in a statement.
This is a Premium article available exclusively to our subscribers. To read 250+ such premium articles every
month
You have exhausted your free article limit.
Please support quality journalism.
You have exhausted your free article limit.
Please support quality journalism.
The Hindu operates by its editorial values to provide you quality journalism.
You have read {{data.cm.views}} out of {{data.cm.maxViews}} free articles.
This is your last free article.