Vodafone Idea rises on report Amazon may invest Rs 20,000 crore – Moneycontrol

Vodafone Idea rises on report Amazon may invest Rs 20,000 crore – Moneycontrol

My Account
Follow us on:
Powered By Finity
Discover 5000+ schemes. Track your portfolio 24X7
Invest Now
MC30 is a curated basket of 30 investment-worthy
mutual Fund (MF) schemes.
Invest Now
Powered By Wazirx
The new age digital currency to diversify a portfolio.
Invest Now
Visit this section to access live price and charts.
Invest Now
Learn and stay informed about cryptocurrency in India.
Learn More
Powered By
Learn, discover & invest in smallcases across different types to build your long term portfolio.
Invest Now
Explore from India`s leading investment managers and advisors curating their strategies as smallcases.
Invest Now
Powered By stockal
Diversify your portfolio by investing in Global brands.
Invest Now
Pre-configured baskets of stocks & ETFs that you can invest
in with a single click. Developed by hedge funds, global
asset management companies, experienced wealth
management firms and portfolio managers.
Invest Now
Gamechangers
AMBAREESH BALIGA
Fundamental, Stock Ideas, Multibaggers & Insights
Subscribe
CK NARAYAN
Stock & Index F&O Trading Calls & Market Analysis
Subscribe
SUDARSHAN SUKHANI
Technical Call, Trading Calls & Insights
Subscribe
T GNANASEKAR
Commodity Trading Calls & Market Analysis
Subscribe
MECKLAI FINANCIALS
Currency Derivatives Trading Calls & Insights
Subscribe
SHUBHAM AGARWAL
Options Trading Advice and Market Analysis
Subscribe
MARKET SMITH INDIA
Model portfolios, Investment Ideas, Guru Screens and Much More
Subscribe
TraderSmith
Proprietary system driven Rule Based Trading calls
Subscribe
Moneycontrol  PRO
Moneycontrol  PRO
Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas
Subscribe
Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas
Explore
STOCK REPORTS BY THOMSON REUTERS
Details stock report and investment recommendation
Subscribe
POWER YOUR TRADE
Technical and Commodity Calls
Subscribe
INVESTMENT WATCH
Set price, volume and news alerts
Subscribe
Shares of Vodafone Idea rose sharply on May 30 after The Ken reported that e-commerce giant Amazon is in the running to invest up to Rs 20,000 crore in the struggling telecom operator. Moneycontrol could not independently verify the report.
Vodafone Idea has been in the search for investors to raise fresh capital to pay down its debt and invest in its network after returning from the brink of bankruptcy following help from the government.
The company had allowed the government to convert a major chunk of its adjusted gross revenue due and interest payments into equity. However, persistent loss of subscribers have weighed on the company even as the sector has managed to substantially raise tariffs in the past three years.
In the quarter ended March, the company showed signs of revival as it added more than 1 million new 4G subscribers while its consolidated operating profits grew 22 percent aided by recent tariff hikes.
As per The Ken, Amazon may be interested in investing in Vodafone Idea as it remains the only major cloud services giant without a telecom partner while Vodafone Idea is the only telecom operator without investment from a major US tech company.
Over the past two and a half years, US tech giants Facebook, Google and Microsoft have invested in the top two telecom operators in the country – Reliance Jio Infocomm and Bharti Airtel to strengthen their cloud offerings in India.
According to a International Data Corporation report, India’s public cloud market is expected to touch revenues of nearly $11 billion by 2025 from $4.5 billion projected for 2022.
For Vodafone Idea, investment from Amazon will not only breathe new life in the company but will also enable it to compete with rivals Airtel and Jio at a time when the Indian government is preparing to auction the fifth generation of telecom spectrum.
Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.
Copyright © e-Eighteen.com Ltd All rights resderved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.

source


Leave a Reply

Your email address will not be published.