Verizon, Amazon may put $4B into Vodafone Idea - report

  • Verizon (NYSE:VZ) and Amazon.com (NASDAQ:AMZN) may invest more than $4B to take a stake in India's Vodafone Idea (VOD, OTC:ICLQY) after a court ruling, according to India's Mint newspaper.
  • Talks about selling a stake in the telecom joint venture had been on hold pending the outcome of a court hearing, but a Supreme Court ruling gave mobile carriers 10 years to settle government dues - and so Amazon and Verizon are set to restart discussions.
  • Vodafone Idea had said its ability to remain a going concern depended on the hearing. It has paid 78.5B rupees (about $1.1B) in telecom dues, but owes about 500B rupees ($6.8B) more.

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