Vodafone Idea denies Starlink talks

New Delhi: Vodafone Idea has said it is not in talks with Starlink for a tie up, amid a continuous rally in its stock price for the past few weeks. The company clarified after some media reports stated that Vodafone Idea ( Vi ) was exploring a tie up with Elon Musk owned Starlink for a stake sale. “In this regard, 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,” Vodafone Idea said in a regulatory filing. It further added that the company will comply with SEBI listing regulations and duly keep the stock exchanges informed of all the price sensitive information. Advt 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.

In anticipation of a fund raise, the share price of the company has been rallying for the past few weeks, touching over Rs 17 apiece last week. The company's cash and cash equivalents declined to Rs 119.6 crore at the end of September from Rs 250 crore at the end of June. 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.

While Vi had earlier announced that it was looking to mobilise about Rs 20,000 crore from a mix of debt and equity but lately, the company has refrained from giving an update on its fundraising plans. ETTelecom Published On Jan 2, 2024 at 01:44 PM IST Telegram Facebook Copy Link Be the first one to comment.

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Download ETTelecom App Get Realtime updates Save your favourite articles Scan to download App vodafone idea starlink akshaya moondra Elon Musk Vi {"@context":"http://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"https://telecom.economictimes.indiatimes.com","name":"Home"}},{"@type":"ListItem","position":2,"item":{"@id":"https://telecom.economictimes.indiatimes.com/news","name":"News"}},{"@type":"ListItem","position":3,"item":{"@id":"https://telecom.economictimes.indiatimes.com/news/industry","name":"Industry"}},{"@type":"ListItem","position":4,"item":{"@id":"https://telecom.economictimes.indiatimes.com/news/industry/vodafone idea denies starlink talks/106480608","name":"Vodafone Idea denies Starlink talks"}}]} {"@context":"http://schema.org","@type":"NewsArticle","mainEntityOfPage":{"@type":"WebPage","@id":"https://telecom.economictimes.indiatimes.com/news/industry/vodafone idea denies starlink talks/106480608"},"headline":"Vodafone Idea denies Starlink talks","datePublished":"2024 01 02T13:44:22+05:30","dateModified":"2024 01 02T13:44:23+05:30","articleBody":"New Delhi: Vodafone Idea has said it is not in talks with Starlink for a tie up, amid a continuous rally in its stock price for the past few weeks.

The company clarified after some media reports stated that Vodafone Idea (Vi) was exploring a tie up with Elon Musk owned Starlink for a stake sale. “In this regard, 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,” Vodafone Idea said in a regulatory filing.It further added that the company will comply with SEBI listing regulations and duly keep the stock exchanges informed of all the price sensitive information.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.

In anticipation of a fund raise, the share price of the company has been rallying for the past few weeks, touching over Rs 17 apiece last week.The company's cash and cash equivalents declined to Rs 119.6 crore at the end of September from Rs 250 crore at the end of June.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.While Vi had earlier announced that it was looking to mobilise about Rs 20,000 crore from a mix of debt and equity but lately, the company has refrained from giving an update on its fundraising plans.","keywords":["Industry","Vodafone Idea","Starlink","Akshaya Moondra","Elon Musk","Vi"],"articleSection":"Industry","url":"https://telecom.economictimes.indiatimes.com/news/industry/vodafone idea denies starlink talks/106480608","description":"It further added that the company will comply with SEBI listing regulations and duly keep the stock exchanges informed of all the price sensitive information.","author":[{"@type":"Thing","name":"ET Telecom","url":"https://telecom.economictimes.indiatimes.com"}],"publisher":{"@type":"NewsMediaOrganization","name":"ETTelecom","logo":{"@type":"ImageObject","url":"https://img.etb2bimg.com/files/cp/upload 1679566637 et telecom light theme.png","width":600,"height":60}},"image":[{"@type":"ImageObject","url":"https://etimg.etb2bimg.com/thumb/msid 106480608,width 1200,height 900,resizemode 4/.jpg","width":1200,"height":900}]} Home News Industry Vodafone Idea denies Starlink talks.