Tata Group eyes majority stake in Vivo India
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The Tata Group is reportedly in advanced discussions to acquire a majority stake in Vivo's Indian division. This potential acquisition is a significant move, given the Indian government's recent push for local companies to hold at least a 51% stake in joint ventures with Chinese handset manufacturers. "The discussions have reached an advanced stage where talks began around valuations. Vivo has been seeking a higher valuation than what Tatas are offering," reported Moneycontrol, citing a person privy to the matter.
