British telecom major Vodafone has sold its 4.2 percent stake in Bharti Airtel to Bharti Enterprises (Holding) for $200 million.
Vodafone said in a statement that its decision to offload its stake in the largest telecom operator in India, in terms of subscribers base, follows the new unified licence (UL) regime that prohibits holdings by any group in more than one licensee company in the same service area.
The telecom major confirmed the sale of its share in Bharti Infotel, representing an approximate 4.2 percent interest in Bharti Airtel, through a wholly-owned subsidiary to Bharti Enterprises Holding for $200 million.
Meanwhile, there were media reports that Vodafone could be looking at an initial public offering to mobilize nearly $4 billion during the next fiscal.
editor@telecomlead.com
