# Billionaire And Starlink-owner Elon Musk to buy Vodafone Idea stake? Here is the TRUTH | Tech News (HT Tech) > It has been rumoured for days that billionaire Elon Musk, who owns satellite internet unit Starlink, is about to buy a stake in Vodafone Idea. # Billionaire And Starlink-owner Elon Musk to buy Vodafone Idea stake? Here is the TRUTH ## It has been rumoured for days that billionaire Elon Musk, who owns satellite internet unit Starlink, is about to buy a stake in Vodafone Idea. Jan 02 2024, 14:19 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![elon musk vodafone idea](https://images.hindustantimes.com/tech/img/2024/01/02/1600x900/ITALY-ECONOMY-19_1704185145004_1704185189311.jpg) The BSE, where Vodafone Idea's stock is listed, had asked the company for a clarification on whether Elon Musk was buying a stake. (Bloomberg) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By HT TECH It has been rumoured for days that billionaire Elon Musk, who owns satellite internet unit Starlink, is about to buy a stake in beleaguered telecom company Vodafone Idea India and it has even affected the stock market price. It was enough to set off speculation across corporate circles and the company has now scrambled to announce its reaction to these reports. The company, in its rejoinder to the Bombay Stock Exchange (BSE), says Vodafone Idea is not in talks to tie up with Elon Musk. After the Indian telecom operator's reaction on Tuesday, its shares went down by 5%. The clarification from Vodafone Idea came after its 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. Also read click here. On Monday, the Bombay Stock Exchange, where Vodafone Idea's stock is listed, had asked the company for a clarification, citing the BusinessWorld report. "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. The BusinessWorld report was published on Friday after Vodafone Idea's stock surged 21%. The stock jumped another 6% on Monday, with trading volume on each day roughly 1.7 billion shares, the most in almost two years. Vodafone Idea's stock fell about 5% after the company's clarification on Tuesday afternoon, with nearly 1 billion shares changing hands. U.K.-based Vodafone, whose Indian unit merged with Aditya Birla Group's Idea Cellular in 2018 to form Vodafone Idea, has partnered with Starlink's rival, Amazon.com's Kuiper for internet networks in Europe and Africa. Kuiper does not operate in India. Domestically, Bharti Airtel and Reliance's Jio are market leaders in the telecom sector, snatching subscribers from debt-ridden Vodafone Idea, which has not reported a profit since it was formed. Bharti and Reliance also own satellite companies. (With inputs from Reuters) One more thing! We are now on WhatsApp Channels! Follow us there so you never miss any update from the world of technology. ‎To follow the HT Tech channel on WhatsApp, click here to join now! Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. 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