Videocon Telecom has reportedly approached US-based telecom operator AT&T Inc. and Norway-based operator Telenor Group in order to divest its stake. This follows an announcement by Videocon that its plan to sell 49 per cent stake in its mobile operating business if it is given a good offer. According to the reports, Videocon is planning to sell the stake before the February 2015 spectrum auctions and is ready to cede management control to the acquirer.
The telecom operator has spectrum in seven circles, but has so far launched mobile services only in the Punjab, Haryana, Madhya Pradesh and Gujarat circles. Recently, the company?s telecom arm in the Punjab circle, Quadrant Televentures was awarded a Category-A internet services provider?s licence to launch pan-India internet services.
