Videocon plans to sell 26% stake in telecommunication arm

India-based Videocon Industries plans to sell 26 percent in its telecommunications venture Videocon Telecommunications once valuation for that business reaches INR 150 billion, reports Reuters, citing Videocon chairman Venugopal Dhoot. Dhoot declined to comment on current valuation for the telecommunication business. The Economic Times newspaper had in June said the business was valued at a little over INR 120 billion. Dhoot said foreign investors from the US, Europe and Japan had expressed interest in the mobile operator. The Videocon Group, which launched mobile services in India under the GSM platform in March this year, has said it will invest INR 140 billion over the next three years as it builds its mobile network.