Vodafone Idea's shares tank after telecom operator denies reports of possible tie-up with Musk's Starlink

Over the last few days, the VIL stock had surged on expectations of a partnership being on the anvil, particularly as Elon Musk is slated to visit the country to attend the Vibrant Gujarat Business Summit next week.

New Delhi: Telecom operator Vodafone Idea on Tuesday said it is not in any discussion with Elon Musk's Starlink for a tie-up and is 'not aware' of the basis of reports that claimed such an alliance and the possibility of a stake purchase.

Vodafone Idea, in a filing to the BSE, asserted that it will comply with Sebi listing regulations and keep the stock exchanges informed of all the price-sensitive information.

Referring to reports about the market being abuzz with talks that Starlink could tie up with Vodafone Idea for a maiden entry into the country's telecom space, VIL denied the news.

"We are not aware of the basis of the said news item. In this regard, we would like to submit that the company is not in any such discussion with the named party," VIL said.

In fact, speculations were also rife that the government could sell its 33.1 per cent stake in VIL to Musk to enable Starlink to make a foray into the Indian market.

Over the last few days, the VIL stock has surged on expectations of such a partnership being on the anvil, particularly as Musk is slated to visit the country to attend the Vibrant Gujarat Business Summit next week.

However, on Tuesday, the VIL stock ended 5.65 per cent lower on the BSE.