India’s Vodafone Idea is not in talks to tie up with billionaire Elon Musk’s satellite internet company Starlink, the telecom operator said on Tuesday, dashing hopes of a revival in the debt-ridden company that had sent its stock soaring.
The clarification came after Vodafone Ideas’ stock surged in the past two sessions on what business magazine BusinessWorld said were “markets betting” that Musk was looking to buy a stake in the company to help Starlink enter India.
“We would like to submit that the company is not in any such discussion with the named party. We are not aware of the basis of the said news item,” Vodafone Idea said in a statement on Tuesday, a day after the Bombay Stock Exchange, where its stock is listed, asked for a clarification on the report.
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