After Vodafone Idea clarification, Verizon too denies Vi acquisition rumours

Amidst swirling speculations that US telecom giant Verizon was considering the acquisition of cash-strapped Vodafone Idea, a senior official from Verizon has categorically denied such claims. Sowmyanarayan Sampath, the CEO of Verizon Consumer Group, addressed the matter on Tuesday, putting an end to the rumors.

"We are not buying Vodafone, definitely not...It's not a question of regulatory [climate] but of opportunity. If the US wasn't big enough or wasn't growing, we would have looked [at India]. There is opportunity for us [consumer division] to grow further in the US and thus we are staying focused and doubling down capital commitments there," Sampath said during a media interaction in Chennai.

Vodafone Idea, India's telecom major, also joined the conversation, firmly refuting any discussions with Verizon, Amazon, or Elon Musk-owned Starlink regarding a potential acquisition. The company emphasized India's significance in its global growth strategy, citing the country's unique capabilities and access to talent pools.


Earlier in the week, Vodafone Idea denied that it is in talks to be acquired by US majors such Verizon, Amazon or Elon Musk-owned Starlink. An online report suggesting it was in talks saw its stock losing nearly 8% in intra-day trade.

A news report published on Sunday by an online portal said that the three US giants are in the race to acquire the loss-making telco by buying out part of the promoters' and government stake.

"This is in relation to (a) News Item titled "Vodafone Idea to be acquired by a US telecom giant Soon? Verizon, Amazon, or Starlink, in the race", which is doing rounds in electronic and social media. We wish to submit that the said news item is incorrect. The company is not in any such discussion with any of the named parties," the telco said in a filing to the stock exchanges.