Google plans to buy 5% stake in struggling Vodafone India

Tech giant Google might take a minority stake in British telecom group Vodafone's struggling Indian business. This news has come weeks after Facebookpicked up a stake in India'sJio's multimedia platforms.

This move is being seen as a direct competitive move, in the disguise of a financial collaboration and help.

Google is planning to buy nearly 5 per cent stake in Vodafone Idea Ltd, according to reports.

The move is being considered a good step for Vodafone Idea Ltd (VIL), as it is struggling withnearlyRs 58,000 crorein unpaid statutory dues, after the Supreme Court upheld the government's position on including revenue from non-core businesses in calculating the annual AGR (Adjusted Gross Revenue) of telecom companies, a share of which is paid as licence and spectrum fee to the exchequer.

The reports are not yet confirmed asthere have been no comments on this speculation from Vodafone India orAlphabet Inc's Google.

(With inputs from PTI)