U.S. wireless carrier Verizon Communications Inc and Amazon.com Inc may invest more than $4 billion for a stake in India's Vodafone Idea Ltd , the Mint newspaper reported on Thursday.
FILE PHOTO: The Verizon store in Superior, Colorado, U.S., July 27, 2017. REUTERS/Rick WilkingThe news comes days after India’s top court ruled that mobile carriers must settle government dues within 10 years, giving Vodafone Idea some reprieve in a case it had said could affect its ability to continue as a going concern.
Vodafone Idea's stake-sale talks had been paused pending the court ruling, but Amazon and Verizon are now set to resume them, Mint reported, citing two people aware of the negotiations. The Tuesday ruling gives Vodafone Idea — India’s third largest telecom firm by subscribers — some respite but analysts say the loss-making company’s financial pressures persist.
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