NEW DELHI: Vodafone Idea<\/a> is in talks with a consortium backed by Oaktree<\/a> Capital to raise $2 -$2.5billion, Bloomberg reported.
\"Oaktree teamed up with several other firms including Varde Partners for the potential deal with Vodafone Idea Ltd.,\" people familiar with the matter told the publication. The report added that the investor group made a proposal to provide around $2 billion to $2.5 billion of capital to Vodafone Idea.
The telco's share advanced over 3 per cent in Thursday’s afternoon trade after the funding<\/a> related report. The scrip traded 3.59 per cent higher at Rs 9.53 at around 12.45 pm (IST), while the benchmark BSE Sensex traded almost flat at 44,173.
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