Ericsson sells 0.6% stake in Vi through Rs 428.43 crore bulk deal

Ericsson India on Tuesday sold a 0.6% stake in Vodafone Idea (Vi) via a bulk deal worth Rs 428.43 crore. The company offloaded 63.37 crore shares in Vi at Rs 6.76 apiece. However, the details of the buyers have not been disclosed yet. This marks the second such transaction in recent weeks as in April, Nokia Solutions and Networks India Pvt Ltd had sold its 0.95% stake in Vi through a similar bulk deal. The Finnish-based telecom gear maker raised Rs 785.67 crore by selling 102.7 crore shares at Rs 7.65 each to marquee global investment banks, including Goldman Sachs, among others.