Tata Group in talks to acquire a majority stake in Vivo’s India unit

Tata Group is in talks to acquire a majority stake in the Indian unit of Chinese smartphone maker Vivo, Moneycontrol reported on Friday. The negotiations have reached an “advanced” stage, with discussions now centred around determining the valuation, the report added.

Earlier, reports emerged that Vivo has sold one of its manufacturing units located in Uttar Pradesh’s Greater Noida to Bhagwati Products, the parent company of Micromax. The Indian company will begin producing phones for Vivo through its original design manufacturing joint venture with Huaqin. The factory is located at the World Trade Center, Techzone IT Park.