Vodafone Idea Looking For Equal Stake In Optic Fibre JV With Bharti Airtel

Merged telco Vodafone Idea is pushing for an equal stake in the proposed Rs 40,000-crore optic fibre joint venture with Bharti Airtel as it wants the holdings to be in proportion to the assets owned, ET reported.

The intention of the deal is to bring in a strategic partner in the JV in about a year as the deal will help the telcos be a part of the competitive telecom industry, the report said citing people familiar with the matter.

The talks are quite advanced and the deal will look to monetise (the JV) in a while, but no immediate need is required as they have their ongoing fund-raising initiatives going on, said the report.

The JV, the paper said, was valued at Rs 35,000-40,000 crore, as per the June quarter.―CNBC TV18