Telecom service provider Vodafone Idea Ltd (VIL) has denied talks for a tie-up with Elon Musk-led Starlink, saying it is unaware of the basis of reports claiming the tie-up. In the information given to BSE, Vodafone Idea emphasized that it will comply with the SEBI provisions related to market listing and will keep all sensitive price related information informed to the stock exchanges.
tie up with vodafone idea
This statement of the company, which is facing financial difficulties, has come at a time when there is talk in the market that Musk’s Starlink can tie up with Vodafone Idea to enter the Indian telecom sector. On this VIL said, we are not aware of the basis of this news. In this regard we would like to say that the company is not in any such discussion with the named party.
Paving the way for Starlink to enter the Indian market
In fact, there was speculation that the government may sell its 33.1 percent stake in VIL to Musk to pave the way for Starlink to enter the Indian market. In the last few days, there has been a rise in the shares of VIL in anticipation of this partnership. This rally has been further strengthened by the news of Musk’s visit to India next week to participate in the Vibrant Gujarat Investor Summit. However, today i.e. Tuesday was not a good day for Vodafone Idea shares and a huge fall of 5.65 percent was seen in its price on BSE.