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Videocon Industries to divest 26% stake in telecom arm: Report

08 Oct 2013 Evaluate

Videocon Industries is reportedly looking to divest 26% stake in its telecom arm. In this regard, the company is in talks with one European and two US companies. The deal is expected to fetch around Rs 15,000 crore.

In separate development, Videocon Telecom is planning to bid for 900 MHz licence for Delhi in the upcoming spectrum auction, and has appointed consulting firm Deloitte to formulate a business plan for the same.

Videocon Industries, established two decades ago, is a global conglomerate whose business consists of manufacturing, marketing and distribution of consumer electronics products and oil & gas extraction.

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