SoftBank, investors to acquire 20% Micromax stake - report

News Wireless India 27 MAR 2015
SoftBank, investors to acquire 20% Micromax stake - report

A group of investors led by Japanese mobile operator SoftBank is in talks to acquire a 20 percent stake in Indian smartphone maker Micromax Informatics for up to USD 1 billion, Reuters reports, citing two unnamed people aware of the negotiations. The investment would value Micromax at USD 5 billion, the sources added.

According to one of the people, the deal would involve the sale of a 20 percent stake in Micromax by existing investors, raising USD 800 million to USD 1 billion. Micromax’s existing investors include private equity firms Sequoia Capital and TA Associates. The stake sale and partial exit of investors could lead to a US listing in the next couple of years, the same sources added.

Micromax, as well as a SoftBank spokesman in Tokyo declined to comment on the matter.

Categories:

Mobile

Companies:

Softbank,  Micromax

Countries:

India

Tags:

Shareholders & subsidiaries, Wholesale, M&A buyouts & divestments

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