Telecom operator Vodafone Idea, on Tuesday, refuted reports that it is in discussions with Elon Musk's Starlink for a tie-up.
The Bombay Stock Exchange had, on Monday, asked the telecom operator to issue a clarification on a news report that claimed that Starlink could tie up with Vodafone Idea for an entry into India's telecom space.
In a filing with the BSE, Vodafone Idea said, "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."
After Vodafone Idea came out with the clarification regarding the report, shares of the company declined over five per cent.
Following the news report about the tie-up on Friday, the shares of the company had surged over 20 per cent. In two sessions, the shares rose over 30 per cent, with high trading volumes.
There were speculations that the government could sell its 33.1 per cent stake in Vodafone Idea Limited to Musk to enable Starlink to make an entry into the Indian market.
