Verizon\, Amazon may invest over $4 billion in Vodafone Idea: Report

Verizon, Amazon may invest over $4 billion in Vodafone Idea: Report

The fundraising is crucial for cash-strapped Vodafone Idea to pay government dues and invest in upgrading its network

Topics
Vodafone Idea | Verizon | Amazon

Reuters  |  BENGALURU 

Vodafone Idea
The company reported a staggering loss of ₹25,460 crore in the June quarter due to one-time charges, including provisions to cover payments due to the government.

BENGALURU (Reuters) - U.S. wireless carrier Verizon Communications Inc and Amazon.com Inc may invest more than $4 billion for a stake in beleaguered Indian telecom firm Vodafone Idea Ltd, India's Mint newspaper reported on Thursday, citing two unnamed people aware of the negotiations.

 

(Reporting by Sachin Ravikumar; Editing by Shailesh Kuber)

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First Published: Thu, September 03 2020. 09:28 IST