Nokia Solutions and Networks India on Friday offloaded nearly 1 per cent stake in debt-laden telecom operator Vodafone Idea for Rs 786 crore through an open market transaction. According to bulk deal data available on the National Stock Exchange (NSE), Nokia sold 102.70 crore shares, representing a 0.95 per cent stake in Vodafone Idea, at an average price of Rs 7.65 per share. The total deal value stood at Rs 785.67 crore, according to a PTI Report.
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Goldman Sachs Acquires Stake
Meanwhile, global investment firm Goldman Sachs acquired 59.86 crore shares of Vodafone Idea, amounting to a 0.55 per cent stake, at the same price of Rs 7.65 per share. The transaction was valued at Rs 457.96 crore. Details of other potential buyers were not disclosed, according to the report.
Shares of Vodafone Idea ended the day 5.93 per cent lower, closing at Rs 7.46 apiece on the NSE.
Also Read: Government Stake in Vodafone Idea Rises to 48.99 Percent After Fresh Equity Allotment
Equity Allotment to Vendors in 2023
In June 2023, Vodafone Idea had announced plans to allot equity shares worth Rs 2,458 crore to vendors Nokia India and Ericsson India as part of a partial dues settlement. Following the issuance, Nokia and Ericsson were to hold 1.5 per cent and 0.9 per cent equity stakes in the telecom company, respectively.
