Technology giant Google is considering to buy around 5 per cent state in Vodafone Idea, claimed a report published in the Financial Times on Thursday.
“The move could pit the US internet group in a battle against Facebook for the world’s fastest-growing mobile market,” the report said.
The process, as per the report, was at a very early stage.
Reportedly Vodafone Idea has a market evaluation of Rs 16,724 crore.
Facebook Inc in April agreed to invest $5.7 billion for a 9.99 per cent stake in Reliance Jio, which competes with Vodafone Idea and Bharti Airtel Ltd in India’s telecom market.
According to the report Google following Facebook in securing a foothold in India highlights the appeal of the country.
“Telecom operators in India enjoy hundreds of millions of subscribers each,” the report added