Videocon mulling options to sell 49 percent stake in telecom entity

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Videocon Group co-promoter Rajkumar Dhoot said that they are willing to to sell 49 percent stake in Videocon Telecom. He also said that they are even ready to give away management control if the company gets "good offer", at 7th edition of Vibrant Gujarat Summit (VGS) in Gandhi Nagar.

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"If we are given good offer, we can give away 49 per cent stake in our mobile operating business. We are also ready to give them management control. We are also keen to participate in upcoming spectrum auction for 4G LTE." said Dhoot, who is also a Rajya Sabha member.

Recently, the company said that it is upgrading its 2G network to 2.75 G EDGE (enhanced data for GSM evolution) with the help of Nokia Siemens Networks (NSN).

The company is upgrading its network in Punjab, Haryana, Madhya Pradesh, Chattisgarh and Gujarat with an investment of Rs 130 crore, to drive data uptake before it jumps to the 4G technology next year.

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