Vodafone in talks with PE funds to sell stake in India unit

British mobile operator Vodafone is in talks with at least two private equity funds to sell a stake in its Indian operations, the Economic Times newspaper reported on Wednesday, quoting an unnamed person involved in the discussion.

July 20, 2011 / 15:06 IST

British mobile operator Vodafone is in talks with at least two private equity funds to sell a stake in its Indian operations, the Economic Times newspaper reported on Wednesday, quoting an unnamed person involved in the discussion.

Earlier this month, Vodafone sealed a long-awaited deal to buy out its partner Essar from their Indian mobile joint venture for USD 5.46 billion, giving it 74% shareholding in the venture.

The company may offload 1% to existing Indian investors and then sell a larger stake to an overseas financial investor, an unnamed group official told the paper.

Voadafone officials could not immediately be reached for comment.

Also read: Vodafone for 100% FDI in Indian telecom sector

first published: Jul 20, 2011 09:53 am

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