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

IT House News 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 around valuation have begun. Vivo has been seeking a higher valuation. Tata Group is interested in the deal, but it has not been finalized yet Finalized.”

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

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