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

Topics Vodafone Idea | Verizon | Amazon


US wireless carrier Verizon Communications Inc and Amazon.com Inc may invest more than $4 billion for a stake in India's Vodafone Idea Ltd, the Mint newspaper reported on Thursday, sending shares in the struggling Indian telecom firm up 10 per cent.

Vodafone Idea's stake-sale talks had been paused pending the outcome of a court hearing in India, which created uncertainty and could have threatened Vodafone Idea's survival, Mint reported, citing two unnamed people aware of the negotiations. But Amazon and Verizon are set.

This article is no longer available in our repository.

There could be multiple reasons for this.