Japan's SoftBank Group (9984.T) on Thursday denied it was in talks with Vodafone Plc's (VOD.L) Indian unit and Idea Cellular (IDEA.NS) to pick up a stake in a potential merger between the two Indian wireless carriers.
SoftBank's denial follows a report in The Economic Times newspaper that the Japanese firm was looking to pick up a stake in a Vodafone-Idea merged company, citing four unidentified people aware of developments.
" We would like to categorically deny SoftBank's participation in the alleged Vodafone, Idea Cellular merger in India," a SoftBank spokeswoman said.
"We underline that we have held no such discussions and media reports about the same are baseless and unsubstantiated."
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