Sources say Tata Group is in talks to acquire majority stake in vivo's Indian subsidiary

According to news from this website on June 17, according to Moneycontrol, India’s Tata Group is negotiating to acquire a majority stake in vivo’s Indian subsidiary.

According to reports, vivo has been looking for local partners after the Indian government pushed domestic companies to participate in its operations, including manufacturing and distribution.

A person familiar with the matter said: "Discussions have entered an advanced stage and negotiations have begun around valuation. Vivo has been seeking a higher valuation. Tata Group is very interested in the deal Interested, but has not yet been finalized.”

The report also mentioned that vivo’s manufacturing plant in Greater Noida, India has been taken over by Bhagwati Products (Micromax) (Note from this site: This is is an Indian manufacturer and assembler of electronics, telecommunications equipment), which has started hiring employees and will soon start producing smartphones for vivo through an original design and manufacturing joint venture with Huaqin. Sources said the joint venture between Bhagwati and Huaqin is awaiting approval from the Indian government.

The above is the detailed content of Sources say Tata Group is in talks to acquire majority stake in vivo's Indian subsidiary. For more information, please follow other related articles on the PHP Chinese website!