Vodafone India in talks with Apollo Global to raise $1bn in debt, equity

Vodafone Idea Ltd is in advanced talks with US private equity investor Apollo Global to raise as much as $1 billion by selling a mix of debt and equity, two people aware of the matter said.

The discussions are at an advanced stage, with the long-awaited announcement likely later this month, the people said requesting anonymity.

Debt-laden Vodafone Idea has been seeking to raise funds from external investors for more than a year but found it difficult to convince investors to write large cheques, given its mammoth government dues.

The nation’s third-largest telecom operator was on the brink of bankruptcy when the government offered a rescue package that gave the troubled company more time to pay dues and convert a part of it into equity, among others measueres. Livemint
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