Google eyes stake in Vodafone Idea: Report

Google is exploring an investment in Vodafone’s India business in a move that could pit the US internet group in a battle against Facebook for the world’s fastest-growing mobile market, Financial Times reported, citing people familiar with the matter.

Google was considering buying stake of about 5% in Vodafone Idea, a partnership between the UK telecoms company and Aditya Birla Group that has been under severe financial strain, the report said.

In recent weeks, Reliance Industries’ Jio — owned by Asia’s richest man Mukesh Ambani — has secured more than $10 billion in investment from Facebook and private equity groups including KKR, General Atlantic, Vista Equity Partners and Silver Lake.

On Tuesday, Bharti Airtel’s parent raised $1.1 billion in a share sale after the company’s stock price hit an all-time high.