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Business News/ Markets / Stock Markets/  Vodafone Idea shares dip, company denies sale to US telecom majors

Stock market today: Vodafone Idea shares today witnessed sell off pressure during stock market's opening bell today. Vodafone Idea share price today opened with upsiee gap but soon witnessed heavy sell off and hit intraday low of 11040 apiece levels on NSE, logging around 2.50 per cent dip against its Friday close of 11.70 apiece on NSE. However, the Indian telecom major witnessed some buying at its intraday low and pared some of its early morning losses.

Vodafone Idea news

On weekend, some media reports were doing the round that some US telecom majors — Verizon, Amazon, or Starlink are in race to acquire the Indian telecom company. However, the Indian telecom major denied such reports while sharing its clarigication on the matter with Indian stock market exchanges.

Vodafone Idea Ltd denied any such development citing, "This is in relation to News Item titled "Vodafone Idea to be acquired by a US telecom giant Soon? Verizon, Amazon, or Starlink, in the race", which is doing rounds in electronic and social media. We wish to submit that the said News Item is incorrect. The Company is not in any such discussion with any of the named parties."

On Saturday, Vodafone Idea Ltd had informed exchanges that it has made the payment of 1,701 crore, including interest, to the department of telecom (DoT) with regards to the 2022 spectrum auction instalment.

Vodafone Idea informed Indian exchanges about the payment citing, "We wish to inform that the Company has today, i.e. 16th September, 2023, made the requisite payment of ~ Rs. 1,701 crores (including interest) to the Department of Telecommunications, Government of India, towards 2022 Spectrum Auction Instalment, in accordance with the terms of Notice Inviting Applications dated 15th June, 2022."

Vodafone Idea share news

Vodafone Idea share price has been in uptrend for the last six months. The telecom stock has risen from around 6.35 to 12.50 apiece levels, logging to the tune of 85 per cent rise in this time. In last one mohth, Vodafone Idea share has surged from near 7.60 to 12.50 apiece levels, registering near 55 per cent rise in this time. Vodafone Idea shares have logged gains on four straight weeks as well.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Updated: 18 Sep 2023, 10:10 AM IST
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