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

  • Verizon (NYSE:VZ) and (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.

Recommended For You

Comments (22)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.