Nimbus Communications Ltd., a media company which private equity firm 3i Group Plc. holds a stake in, may sell shares to a strategic partner, The Economic Times reported, without saying where it got the information.
The board will consider a proposal from an unidentified U.K. media company to buy a majority stake, the report said.
It will also consider plans from private fund Ashmore Group Plc and an unidentified media company from Singapore for a minority stake, the report said.
There may be proposals for controlling stake, but the board may not recommend them, the report quoted Nimbus Chairman Harish Thawani as saying. (Bloomberg)