Vodafone Idea Shares Jump 14% On Reports Of Amazon, Verizon Stake

Shares in Vodafone Idea jumped as much as 14 per cent to Rs 11.3, after reports that Amazon and Verizon were planning a stake in the company.

According to a report in the Mint, Amazon.com Inc. and Verizon Communications, the largest wireless carrier in the US, are set to resume talks to buy a significant stake in struggling Vodafone Idea Ltd for more than $4 billion, two people aware of the negotiations said.

"The stake-sale talks were paused because the outcome of a Supreme Court case on staggered payments of government dues was uncertain and could have threatened the survival of Vodafone Idea, the people said seeking anonymity," the Mint stated quoting sources.