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Stakeholders may dilute holdings in cash-strapped Vodafone Idea
- Tuesday | 27th July, 2021
Vodafone Group Plc and Aditya Birla Group have reportedly changed their approach and are now open to the option of doing away with majority stake in Vodafone Idea or even transfer control to a strategic investor. Vodafone Group owns a 45% stake in VIL, while the Indian promoter group, which includes Kumar Mangalam Birla and Aditya Birla Group firms, holds a 26% stake. Vodafone Idea management and its promoters group are currently in talks with five investors, both strategic and financial, including three US-based funds. The talks are revolving around selling a combination of Vodafone Idea shares and convertibles to be able to raise money, the publication reported. Vodafone Idea had previously increased prices of some of its general postpaid plans across the country.
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