Tatas drop plan to buy India business of Vivo

NEW DELHI: Tata group’s bid to acquire a majority stake in Chinese smartphone giant Vivo’s India business may have stalled after objections by Apple, sources told TOI.

Sources said Vivo (FY23 revenue: Rs 30,000 crore) was looking to offload 51% stake in its Indian subsidiary to the Tata group as part of its efforts to ‘Indianise’ operations in the face of govt pressure.