Vodafone Idea has recently denied the reports which state that it is in talks with Elon Musk- CEO of Tesla and SpaceX for managing its affordable satellite-based Internet service Starlink in India.
In an exchange filing, the telecom provider said, “We would like to submit that the company is not in any such discussion with the named party.”
Vodafone Idea (VI) denied
Following the clarification, Vodafone Idea's stock experienced a decline of more than 4 per cent, reaching Rs 16.20 on the Bombay Stock Exchange (BSE).
In September of the previous year, Vodafone Idea refuted speculations about potential acquisitions by Verizon, Amazon, or Starlink. The company stated in a regulatory filing that such reports were inaccurate.
Telecommunications Bill 2023
The Telecommunications Bill 2023 was approved by the Rajya Sabha last month through a voice vote, following its passage in the Lok Sabha.
The new bill will enable the spectrum allocation for satellite-based services without the need to participate in auctions - a move to favour companies like Elon Musk's Starlink, OneWeb, and Amazon's Kuiper.
After many failed attempts in the past, Starlink is again keen to launch satellite broadband services in the world's largest country this year.
Vodafone Idea and 5G service in India
Meanwhile, Vodafone Idea is geared up to make significant investments to roll out 5G networks and further expand 4G coverage in India.
Vodafone Idea team has worked diligently to prepare the core network for 5G over the last year.
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Inputs from IANS
