Vi gains 10% on reports of Amazon & PEs Rs 20,000 crore investment plan

Sources say that the proceeds of the sale will be utilized to bid for the upcoming 5G spectrum auction and roll-out of services by end of the year.

Shares of Vodafone Idea (Vi) gained 10 per cent to Rs 10.23 on the BSE in Tuesday’s intra-day trade, on the back of heavy volumes. The spike comes after a media report suggested that American retail major Amazon and a clutch of investors are in talks with Aditya Birla Group to invest up to Rs 20,000 crore in the wireless telephone company.

At 10:50 am; Vi traded 9 per cent higher at Rs 10.13, as compared to 0.23 per cent decline in the S&P BSE Sensex. In the past three days, the stock rallied 19 per cent. Data shows