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  Business   Companies  23 Feb 2017  Softbank denies stake in telecom merger

Softbank denies stake in telecom merger

PTI
Published : Feb 23, 2017, 3:48 pm IST
Updated : Feb 23, 2017, 4:25 pm IST

Japanese major denies report citing four unidentified people aware of developments.

Softbank denies such discussions and media reports about the same are baseless and unsubstantiated.
 Softbank denies such discussions and media reports about the same are baseless and unsubstantiated.

Mumbai: Japan's SoftBank Group on Thursday denied it was in talks with Vodafone Plc's Indian unit and Idea Cellular to pick up a stake in a potential merger between the two Indian wireless carriers.

SoftBank's denial follows a report in The Economic Times newspaper that the Japanese firm was looking to pick up a stake in a Vodafone-Idea merged company, citing four unidentified people aware of developments.

" We would like to categorically deny SoftBank's participation in the alleged Vodafone, Idea Cellular merger in India," a SoftBank spokeswoman said.

"We underline that we have held no such discussions and media reports about the same are baseless and unsubstantiated."

Tags: softbank, idea, vodafone