Tata Group drops plan to acquire stake in Vivo India over Apple’s objection

Tata group’s attempt to purchase a majority stake in Vivo’s India business has encountered hurdles due to objections from Apple, according to a report by The Times of India.

Vivo, which reported a revenue of Rs 30,000 crore for FY23, was planning to sell a 51 per cent stake in its Indian subsidiary to the Tata group. This move was part of Vivo’s strategy to ‘Indianise’ its operations amid government pressure, the report said.