TPG Capital, Apollo Global and Carlyle Group are among the private equity giants who have entered into preliminary discussions with Vodafone Idea (Vi) regarding the sale of the company’s fixed broadband business, the Hindustan Time reports, citing two people familiar with the matter. Since Vodafone Idea will continue to use the fibre infrastructure, the deals will likely happen on a sale-and-leaseback basis, the sources said, on condition of anonymity. A deal – worth in the region of USD1 billion – is expected to come to fruition within two-to-three months, the sources added.
According to the Economic Times, Vodafone Idea currently presides over around 160,000km of fibre. The report notes that the deal will likely include YOU Broadband, which Vodafone acquired from The Rohatyn Group (TRG) for INR4 billion (USD59.9 million) in June 2017. The ISP currently has a presence in 21 cities and serves more than 800,000 customers.