M&A

M&A

Airtel, Vodafone Idea sell their stakes in wi-fi JV Firefly Networks to iBus

Economic Times  

Bharti Airtel and Vodafone Idea have signed a deal to sell their respective stakes in New Delhi-headquartered Firefly Networks , a wi-fi infrastructure provider, to digital infrastructure solutions provider iBus Network and Infrastructure Pvt Ltd. Airtel and Vodafone Idea will get INR 4.5 crore each.Firefly started as a joint venture (JV) between the two telcos in 2014. It operates as a technology-neutral company that deploys an aggregate network that can be shared by telecom operators and internet service providers seeking better quality of service at a reduced cost.