Videocon telecom has received interests from a Mexican telecom company as well as an Indian player for the proposed 49 per cent stake sale of the company. However, the company reports that any deal like such will be undertaken only after the upcoming spectrum auctions and after the government offers clarity over the merger and acquisition norms.
The international interest in this stake sale comes as these companies want to participate in the rapidly growing Indian telecom market. With 8.6 million customers, Videocon Telecom is among the smaller players in India’s telecom market. It has licences in seven circles, but offers services only in Punjab, Haryana, Madhya Pradesh, Chhattisgarh and Gujarat circles.
