Shares of Vodafone-Idea have risen sharply following reports that Amazon will invest in the company.
US-based Amazon has announced a Rs 20,000 crore investment in Vodafone-Idea, according to The Ken.
As a result, shares of Vodafone-Idea have become the biggest selling point on the National Stock Exchange. The company, which is already mired in debt, is now looking forward to investing, and Amazon has now come forward.
Vodafone – Idea is facing bankruptcy and has sought government help. It also raised fees to offset losses as the number of customers has been declining over the past three years.
Shares of Vodafone-Idea have been selling heavily as Amazon has offered to invest in the company.
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