Amidst swirling speculations of a potential stake sale to Elon Musk’s Starlink, Vodafone Idea has officially debunked the rumors, stating that there are no ongoing discussions with the satellite internet company. The telecom operator made this clarification in response to recent media reports suggesting a possible 33 per cent stake sale to the tech magnate.
Vodafone Idea, in its filing to the stock exchanges, affirmed, “In this regard, we would like to submit that the company is not in any such discussion with the named party. We are not aware of the basis of the said news item.” The company emphasized its commitment to compliance with SEBI Listing Regulations and assured stakeholders of prompt and accurate communication regarding any price-sensitive information.
The initial media report had suggested that the government might consider selling its 33 per cent stake in Vodafone Idea to Elon Musk, triggering a surge in the telecom operator’s shares. Over the past five sessions, Vodafone Idea’s shares have witnessed a notable rise of over 20 per cent, adding to the momentum that has seen the company’s shares double in value over the past 12 months.
As the telecom industry continues to be a focal point for strategic partnerships and potential investments, Vodafone Idea’s clarification provides a sense of stability in the market, addressing concerns and ensuring transparency for investors.
