wordpress blog stats
Connect with us

Hi, what are you looking for?

Bharti To Sell Majority Stake In Comviva

comviva_logo_final
Bharti Enterprises is looking at selling its majority stake in the mobile VAS company Comviva, reports The Wall Street Journal, mentioning that it has learnt about the development from three people familiar with this matter. It also reports that a merchant bank has been appointed for the sale and there are two potential buyers, although no formal announcement has been made with regards to bids or expression of interest.

The company, earlier known as Bharti Telesoft was rebranded Comviva in 2009. As of March 2009, Bharti Enterprises owned 75.03% in the company. The stake increased after the company’s Vice chairman, Sanjiv Mittal sold a large proportion of his shares (7.87% ordinary plus an undisclosed percentage of preferential shares) to Bharti and Sequoia Capital, which is also an existing investor in the company.

Comviva develops mobile value added services products and applications which are deployed by mobile operators and service providers. It has more than 100 customers in85 countries including Aircel, Idea Cellular, MTN, NTT Docomo, Uninor, Vodafone, Videocon, among others.

Related:

Comviva Inks Africa Content Deals With InMobia, StarFish; More To Come
Comviva Lands Virtual SIM Deal With MTN Ghana
Sequoia & Bharti Buy Sanjiv Mittal Stake In Comviva; Mittal Sets Up Saarthi Enterprises

Advertisement. Scroll to continue reading.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The Delhi High Court should quash the government's order to block Tanul Thakur's website in light of the Shreya Singhal verdict by the Supreme...

News

Releasing the policy is akin to putting the proverbial 'cart before the horse'.

News

The industry's growth is being weighed down by taxation and legal uncertainty.

News

Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.

News

Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ