Nokia Solutions India sells nearly 1 pc stake in Vodafone Idea for Rs 786 crore

Nokia Solutions and Networks India on Friday divested nearly 1 per cent stake in debt-saddled telecom operator Vodafone Idea for Rs 786 crore through an open market transaction. According to the bulk deal data on the NSE, Nokia Solutions and Networks India sold 102.70 crore shares, amounting to a 0.95 per cent stake in Vodafone Idea. The shares were sold at an average price of Rs 7.65 apiece, taking the aggregate value to Rs 785.67 crore.

Meanwhile, global investment firm Goldman Sachs picked up 59.86 crore shares or 0.55 per cent holding in Vodafone Idea. The shares were acquired at the same price. This took the deal value to Rs 457.96 crore. Details of other buyers of Vodafone Idea's shares could not be ascertained.

On Friday, shares of Vodafone Idea fell 5.93 per cent to close at Rs 7.46 per piece on the NSE.


In June last year, Vodafone Idea announced that it will allocate shares worth Rs 2,458 crore to vendors Nokia India and Ericsson India to clear their partial dues.

Pursuant to issuance of shares, the equity stake of Nokia and Ericsson in the company will be 1.5 per cent and 0.9 per cent, respectively.