(Reuters) – Alphabet Inc’s Google is exploring an investment in Vodafone Group Plc’s <VOD.L > struggling India business, the Financial Times reported on Thursday, citing people familiar with the matter.
Google is considering buying a stake of about 5% in Vodafone Idea, the FT reported, citing one of the people. The process is at an early stage, according to the report.
Vodafone said it does not comment on market speculation, while Google did not immediately respond to a request for comment.
Last month, Facebook Inc agreed to invest $5.7 billion for a 9.99% stake in Reliance Industries’ digital arm, Jio, which competes with Vodafone Idea and Bharti Airtel Ltd in India’s fiercely competitive telecom market.
Reporting by Neha Malara in Bengaluru; Editing by Anil D’Silva