Vodafone choosing Indian IPO arrangers, report says

Vodafone Group has begun the process of choosing arrangers for an initial public offering (IPO) of its Indian mobile network operating division, writes Bloomberg quoting people with knowledge of the matter. The report adds that the UK telecoms heavyweight asked interested investment banks to sign non-disclosure agreements before receiving more detailed information on Vodafone India, ahead of a debut stock market listing of roughly 10% of shares in the cellco, which is valued in the ballpark of USD20 billion. The unnamed sources claimed that advisors could be chosen as early as next month. Vodafone CEO Vittorio Colao said in February the company remains intent on listing its Indian unit, though the process is ‘complicated’ and exact timing is difficult to predict.