Verizon, Amazon may invest over $4 billion in Vodafone Idea

News Network
September 3, 2020

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Bengaluru, Sept 3: US wireless carrier Verizon Communications Inc and Amazon.com Inc may invest more than $4 billion for a stake in India's Vodafone Idea Ltd, the Mint newspaper reported on Thursday, sending shares in the struggling Indian telecom firm up 10 per cent.

Vodafone Idea's stake-sale talks had been paused pending the outcome of a court hearing in India, which created uncertainty and could have threatened Vodafone Idea's survival, Mint reported, citing two unnamed people aware of the negotiations.

But Amazon and Verizon are set to resume discussions following a Supreme Court ruling on Tuesday which gave mobile carriers 10 years to settle government dues.

Vodafone Idea did not immediately respond to Reuters request for comment. Amazon and Verizon did not return emails seeking comment outside regular US business hours.

Heavily indebted Vodafone Idea - a joint venture between Britain's Vodafone Group Plc and India's Idea Cellular - had previously said its ability to continue as a going concern rested on a positive outcome of the hearing.

It has paid the Indian government 78.5 billion rupees ($1.1 billion) in telecoms dues, according to regulatory filings, but still owes roughly 500 billion rupees ($6.8 billion) more.

Shares in Vodafone Idea, which ended 13 per cent lower after Tuesday's court ruling, were up 8 per cent at 10.70 rupees on the NSE index by 0405 GMT.

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News Network
January 17,2025

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Mangaluru, Jan 17: A heart-wrenching accident at Nadupadavu near Kattukodi on the outskirts of the city claimed the life of a young scooter rider this morning. 

The victim, identified as Abubakar Siddiq Razwi (22), son of Moydeen Kunji Bavu and a resident of Nadupadavu, tragically succumbed to his injuries on the spot.

The accident occurred when a scooter traveling from Deralakatte collided with an Ace Tempo heading from Mudipu to Thokkottu.

Abubakar, a final-year student at an Arabic Shariah College in Kasargod, leaves behind a community in mourning. The tempo driver also sustained injuries in the collision.

The Mangaluru South Traffic Police have registered a case and are conducting an investigation into the incident.

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News Network
January 17,2025

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Despite the announcement of a ceasefire deal, Israel has intensified its airstrikes and artillery shelling on Gaza, especially its residential buildings, killing more than 100 Palestinians.

Gaza’s civil defense said on Friday at least 101 Palestinians, including 27 children and 31 women, have been killed by Israeli strikes in Gaza since the ceasefire announcement on Wednesday.

The attacks have also left more than 264 injured, according to the rescue agency.

Most of the killings came in Gaza City.

The report comes as Israeli attacks have shown no sign of slowing on the ground, with dozens of strikes reported on Friday.

In northern Gaza’s Jabalia, nine members of a Palestinian journalist’s family, including women and children, were killed.

Two more Palestinians were killed in a separate Israel airstrike in the Jabalia al-Balad area, in the north of Gaza. 

Jabalia has come under fierce attack since the Gaza ceasefire announcement this week. On Thursday, at least 20 were killed in one attack in the area.

At least five others were also killed in another attack that targeted a home, east of Khan Younis City, in Southern Gaza on Friday.

To the west of Khan Younis, three people were killed in attacks on tents housing displaced people.

Another tent was targeted in Nuseirat camp in central Gaza, killing one person.

That's while Israel’s prime minister Benjamin Netanyahu said he would convene his cabinet later on Friday to approve the long-awaited ceasefire.

Israel launched a genocidal war on Gaza on October 7, 2023, after the Palestinian resistance movement Hamas waged the surprise Operation Al-Aqsa Storm against the occupying entity in response to the Israeli regime's decades-long campaign of bloodletting and devastation against Palestinians.

The regime’s bloody onslaught on Gaza has so far killed at least 46,788 Palestinians, mostly women and children, and injured more than 110,453 others. Thousands more are also missing and presumed dead under rubble.

The ceasefire, announced on Wednesday, consists of three phases and would come into effect on Sunday over 42 days.

The truce deal stipulates that a large-scale prisoner exchange will occur, including the release of 1,000 prisoners from Gaza and hundreds of detainees serving lengthy sentences.

The first stage involves the release of 33 captives, including "children, women, female soldiers, men above 50, and the wounded and sick," as well as a gradual, partial withdrawal of invading Israeli units.

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News Network
January 4,2025

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Eight members of the Israeli Knesset (parliament) have called upon the regime’s minister of military affairs Israel Katz to instruct the occupation army to destroy all water, food and energy sources in the Gaza Strip “to achieve the war goals.”

The letter to Katz asserted “the Israeli military’s operations were failing to achieve the political objectives set for the war”, the Israeli Haaretz daily newspaper reported. 

Despite Israel’s complete siege on the Gaza Strip and the reduction in aid being allowed into the coastal territory, the legislators said the current plans to displace north Gaza residents to the south are not being implemented “properly”.

The Knesset members urged Katz to re-examine war strategies, asserting that after besieging northern Gaza and displacing its residents, the Israeli military should destroy all energy, food and water sources in the area.

They also called for the killing of anyone who moved within northern Gaza without surrendering by waving a white flag.

The measures should not be limited to northern Gaza, they said, but extended to other regions.

They made no mention of the Israeli captives being held in Gaza, Haaretz noted.

Backed by the United States and its Western allies, Israel launched the war on Gaza on October 7, 2023, after the Palestinian resistance movement Hamas carried out Operation Al-Aqsa Flood against the Israeli regime in response to its decades-long campaign of oppression against Palestinians.

The regime’s bloody onslaught on Gaza has so far killed at least 45,658 Palestinians, mostly women and children, and injured 108,583 others. Thousands more are also missing and presumed dead under rubble.

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