A consortium of investors comprising Oaktree Capital Management and Varde Partners has proposed investing at least $2 billion in cash-strapped Vodafone Idea Ltd (Vi) by buying hybrid debt securities, two people familiar with the matter said. Spokespeople for Vodafone Idea, Oaktree and Varde Partners declined to comment. In September, Vodafone Idea said it plans to raise ₹25,000 crore by selling bonds and shares. Vodafone Idea has also been in talks with other investors to raise funds amid mounting losses and shrinking revenues. Shares of Vodafone Idea rose 0.8% to ₹9.27 on Thursday, while the benchmark Sensex fell more than 1% to close at 43,599.96 points.

Source: Mint November 20, 2020 00:45 UTC