Vodafone Group has has sold 4.2% stake in India's largest telecom operator Bharti Airtel for $200 million, reports the Economic Times in order to comply with regulatory norms. Vodafone in 2005 had bought 10% stake in Bharti Airtel and had sold a part of it in 2007 following its acquisition of Hutchinson-Essar which it renamed as Vodafone India. Vodafone sold its shareholding in Bharti Infotel Private Ltd back to Bharti Enterprises (Holding) Private Limited. "The disposal follows the new Unified Licence regime in India published by the Department of Telecoms, which prohibits the holding by a group of an interest in more than one licensee company in the same service area," Vodafone said in the report. The department of telecommunications' regulations forbid telecom companies holding a stake in competitors in a bid to discourage cartelization in the telecom sector. Vodafone India is the second largest telecom operator in the country with 184.56 million subscribers as of April 2015. Vodafone Group has reportedly revived its plan to launch an Initial Public Offering (IPO) for its Indian subsidiary Vodafone India next year is apparently looking to raise as much as $4 billion through this IPO, which would make it one of the largest ever in the country. Vodafone Group is expected to take a final call on the valuation by August 2015, and complete the IPO process by the end of Q4-FY16. Vodafone Group had bought out Vodafone India’s minority stakeholders like Analjit Singh and Piramal Healthcare to acquire 100% stake in the company, in April last year. Vodafone mobile Internet:…
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