NEW DELHI: Telecom service provider Vodafone Idea on Tuesday denied any talks or tie-up with Elon Musk-led Starlink. The company, in an exchange filing, said the company is not in any such discussion with the named party, and it isn’t aware of the basis of the said the news. Last week, there were news reports that the government could sell its 33% stake in Vodafone Idea to tech billionaire Musk and his satellite internet venture Starlink.
“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. We wish to reiterate and clarify that the company will comply with SEBI Listing Regulations and duly keep the stock exchanges informed of all the price sensitive information,” said Vodafone Idea, in an exchange filing.
However, share price of the company has been rallying for the past few weeks, touching over Rs 17 apiece last week. The loss-making telco has been trying to raise funds from financial investors as well as banks but so far, no announcement has been made. Vi chief executive Akshaya Moondra had earlier said that discussions with potential investors will close in the December quarter, followed by debt funding from banks.