Not Participating in Vodafone-Idea Merger in India, Says Softbank
New Delhi: Softbank has said it has not held any talks to be part of a proposed Vodafone India-Idea Cellular merged entity.
“We would like to categorically deny SoftBank’s participation in the alleged Vodafone-Idea Cellular merger in India. We underline that we have held no such discussions and media reports about the same are baseless and unsubstantiated,” a SoftBank spokesperson said in an email on Thursday.
A news story titled “SoftBank may Open A/C in Voda-Idea Combine”, published on February 23 in this newspaper had said said Softbank was in talks with Vodafone Plc to buy a minority stake in its Indian unit, which is likely to be merged with Idea Cellular. The report had added that there was no guarantee about the outcome of the talks.
ET had emailed queries about these talks on three separate dates — February 9, 10 and 21, to the Softbank spokesperson. On each occasion, the spokesperson said the company did not comment on speculation.