Nokia Solutions offloads 0.95% stake in Vodafone Idea for Rs 786 crore

Vodafone Idea shares have crashed 21 percent in the last three months.

Vodafone Idea witnessed a major stake reshuffle on Friday, with Nokia Solutions and Networks India offloading nearly 1 percent of its holding in the company. According to bulk deal data from the NSE, Nokia sold 102.7 crore shares, amounting to a 0.95 percent stake, for Rs 785.67 crore. The shares were sold at an average price of Rs 7.65 apiece.

Global investment giant Goldman Sachs emerged as a key buyer, picking up 59.86 crore shares or a 0.55 percent stake in Vodafone Idea for Rs 457.96 crore at the same price. Details of other buyers were not immediately available.

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The transaction comes months after Vodafone Idea had allotted shares worth Rs 2,458 crore to vendors Nokia India and Ericsson India last year to partially clear outstanding dues, resulting in Nokia and Ericsson holding 1.5 percent and 0.9 percent stakes, respectively.

Vodafone Idea shares closed at Rs 7.4, lower by 6 percent from the last close on the NSE. Vodafone Idea shares have crashed 21 percent in the last three months.

On April 24, the company inked a strategic deal with US networking giant Cisco to overhaul its core transport network infrastructure, preparing for upcoming 4G and 5G expansion across the country.

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Vodafone Idea will deploy a Multiprotocol Label Switching (MPLS)-based transport network powered by Cisco’s technology. The upgrade aims to enhance network reliability, automate critical functions, optimize traffic flow, and enable faster adaptation to shifting market demands.

“Our collaboration with Cisco demonstrates our commitment to staying at the forefront of network technology,” said Jagbir Singh, Chief Technology Officer, Vi. “Cisco’s MPLS expertise will empower our network to scale efficiently and deliver improved experiences to our users.”