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Vodafone in talks to sell stake

Vodafone is reported to be in discussions with the Piramal group and HDFC Bank to sell part of its stake in its payments bank unit as required. It intends to divest as much as 49% against the mandatorily required 26% in the unit and the intention in talking the Piramal Group and HDFC Bank is to enable cross-selling of financial services products. According to news reports, Vodafone had also been in talks with YES Bank earlier. Vodafone had a tie-up with ICICI Bank for its M-pesa mobile wallet, but it apparently could not talk to the bank as it has already forged an alliance with microfinance company FINO for the payments bank partnership.

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