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Vodafone Idea Shares Surge on $4-6B Takeover Offer from US Firm
3 Nov
Summary
- US PE firm Tillman Global in talks to invest $4-6B, take control of Vodafone Idea
- Deal contingent on government providing comprehensive bailout package
- Existing promoters Aditya Birla, Vodafone to lose control if deal goes through
On November 3, 2025, shares of debt-laden telecom firm Vodafone Idea Ltd. saw a surge of up to 4.5% following reports that US private equity firm Tillman Global Holdings (TGH) is in negotiations to invest $4-6 billion in the company and take operational control.
According to the report, the investment by TGH will only happen if the Indian government provides a comprehensive package to cover all of Vodafone Idea's liabilities, including dues based on adjusted gross revenue (AGR) and spectrum payments. If the deal goes through, TGH will take on the promoter status and assume control from the existing promoters, the Aditya Birla Group and UK's Vodafone.
The potential investment and takeover come as Vodafone Idea's shares have been under pressure in recent weeks, with concerns that the Supreme Court's partial relief order does not fully address the company's financial woes. The court's order restricts the additional AGR demand to the period up to the 2016-17 financial year, leaving the company's future still uncertain.
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Analysts believe that an investment by TGH and the government's support could be a game-changer for Vodafone Idea, which has been struggling to compete in the highly competitive Indian telecom market. The deal, if finalized, would result in a significant dilution of the existing promoter stakes, with the government likely maintaining a holding below 49% through the conversion of dues into equity.
