Vodafone Idea in talks for funding from Oaktree Capital

NEW DELHI: Vodafone Idea may be close to securing some much needed capital to meet its heavy cash requirements with sources confirming that the telecom provider is in negotiations with a consortium led by Oaktree Capital under which it may receive both debt and equity investments.

While the amount under question could not be independently ascertained, reports indicate that it might be as much as USD 2-2.5 billion. While no official comments have been made, sources in the know said that since Oaktree’s bid for DHFL may now be in rough seas, due to the last-minute bid by the Adani group, the US asset management company is likely looking at other attractive bets in India. Sources also say that the consortium includes several other firms including Varde Partners.