Nokia’s Indian unit, Nokia Solutions and Networks India Pvt Ltd, has reportedly sold its 0.95% stake in Vodafone Idea (Vi) to a group of global investment banks in a bulk deal worth INR7.85 billion (US$92 million).
According to a report from ETTelecom on Saturday, Nokia sold its stake to several investment banks in a single transaction at INR7.65 per share. Goldman Sachs (Singapore) was confirmed to be among the buyers, acquiring INR4.57 billion worth of shares.
An anonymous source with direct knowledge of the transaction said the purchase gives Goldman Sachs a 0.55% stake in Vi, the report said.
Nokia Solutions and Networks India acquired a roughly 1.5% stake in Vi in June 2024 for INR15.2 billion as part of a fundraising scheme by the telco to fund its network rollout and pay off part of its dues to Nokia. Ericsson was also part of that deal, buying a 0.9% in Vi for INR9.38 billion.
Nokia’s stake was diluted to 0.95% last month after the Indian government boosted its stake in Vi from 22.6% to 48.99%, the report said.
