Vodafone Idea to offer Rs 2,458 crore stake to Nokia and Ericsson

Vodafone Idea (Vi) has decided to offer a Rs 2,458 crore stake in the financially beleaguered telecommunications (telecom) operator to long-term vendors Nokia and Ericsson in a bid to partially clear outstanding dues.

The company’s board has approved the preferential issue of 1,027 million equity shares with a face value of Rs 10 each to Nokia and 633.7 million shares to Ericsson, Vi said in a regulatory filing on Thursday.