Vodafone Idea denies discussion with satellite internet company Starlink for any stake sale
Our Bureau
San Francisco, CA
Elon Musk has announced the launch of Starlink Direct-to-Phone satellites.
Musk shared a video on X on Wednesday and wrote, “First launch of Starlink Direct-to-Phone satellites.”
Musk also reshared the ‘SpaceX’ post and wrote, “This will allow for mobile phone connectivity anywhere on Earth. Note, this only supports 7 MB per beam and the beams are very big, so while this is a great solution for locations with no cellular connectivity, it is not meaningfully competitive with existing terrestrial cellular networks.”
“The six @Starlink satellites on this mission with direct-to-cell capability will further global connectivity and help to eliminate dead zones – http://direct.starlink.com,” SpaceX’s post read.
Starlink Direct-to-Phone satellites will provide mobile phone access anywhere on Earth and also a solution for areas without cellular coverage.
The major goal of the first-ever direct-to-cell satellite by Musk’s company is to give people high-speed network access in remote and rural locations where other networks have issues.
Internet access and cell phone service are expected to be quicker and more dependable. Starlink is a satellite network developed by Musk’s space flight company SpaceX to provide low-cost internet to remote and interior locations.
Meanwhile, clearing all speculations, telecom operator Vodafone Idea on Tuesday said it was not in any such discussion with the Elon Musk-owned satellite internet company Starlink for any stake sale. “In this regard, 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 informed stock exchanges in a filing after a clarification was sought on a news item.
“We wish to reiterate and clarify that the Company will comply with SEBI Listing Regulations and duly keep the stock exchanges informed of all the price-sensitive information.”
Earlier, a media report claimed that the government could sell its 33 per cent stake in Vodafone Idea to Elon Musk.
Since the news report of possible stake sales was published, the telecom operator’s shares have risen over 20 per cent in the past five sessions. Over the past 12 months, the company’s shares doubled from Rs 8 to Rs 16. On Tuesday at 2.57 pm, the shares were, however, 6 per cent lower.
