Vodafone IDEA shares rose sharply on May 30 after Ken reported that the Amazon e-commerce giant was running to invest up to 20,000 crore hospitals at the struggle telecommunications operator. Moneycontrol cannot independently verify reports.

The idea of ​​Vodafone has been looking for investors to increase new capital to pay their debts and invest in its network after returning from the threshold of bankruptcy after assistance from the government.

The company has allowed the government to change most of the adjusted gross income and interest payments to equity. However, the loss of constant customers has burdened the company even when this sector managed to raise the tariff substantially in the last three years.

In the quarter ended in March, the company showed signs of resurrection because it added more than 1 million new 4G customers while the consolidated operating profit grew 22 percent assisted by this new tariff increase.

According to Ken, Amazon may be interested in investing in Vodafone Idea because it remains a giant of the main cloud service without telecommunications partners while Vodafone Idea is one of the telecommunications operators without investment from the main US technology company.

For the past two and a half years, Facebook as Tech Giants, Google and Microsoft have invested in the top two telecommunications operators in the country – Reliance Jio Infocomm and Bharti Airtel to strengthen their cloud offers in India.

According to the International Data Corporation report, the Indian public cloud market is expected to touch revenues of nearly $ 11 billion in 2025 of $ 4.5 billion which is projected for 2022.

For Vodafone’s ideas, investment from Amazon will not only breathe new in the company but will also allow it to compete with its rivals Airtel and Jio when the Indian government is preparing to auction the fifth generation of telecommunications spectrum.

At 11:34 in the morning, Vodafone Idea shares rose by almost 4 percent in RS 9.25 on the National Stock Exchange.