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Ericsson India sells 0.6% stake for Rs.428-Cr, exits Voda Idea

Economic Times  

Ericsson India Pvt Ltd has sold off its around 0.6% stake in Vodafone Idea (Vi) via a bulk deal, raising INR 428.43 crore. Ericsson sold 63.37 crore shares in Vi at INR 6.76 apiece. Last year, Vi had allotted 63.37 crore shares to Ericsson via a preferential issue at INR 14.80 a share to clear a portion of its dues to the Swedish networks vendor.The Ericsson stake sale comes just over a month after Nokia Solutions and Networks India had sold off its 0.95% stake in Vi in late-April via a similar bulk deal to global investment banks.