Ericsson India has offloaded its 0.6 percent stake in Indian telco Vodafone Idea (Vi).

As reported by the Economic Times, Ericsson's Indian unit sold its stake for INR4.3 billion ($49.9m) to undisclosed investors.

The vendor's stake sale comes a few weeks after Nokia India sold its 0.95 percent stake in Vi to a group of global investment banks for INR7.85 billion (US$92 million).

Both vendors acquired stakes in Vi last June as Vi sought to clear its debts.

At the time, Nokia acquired 1.03 billion shares in the telco for a 1.5 percent shareholding, which diluted to 0.95 percent, while Ericsson separately acquired a 0.9 percent stake in the telco before it was diluted down to 0.6 percent.

The company, which was created in 2018 following the merger of Vodafone India and Idea Cellular, has struggled for some time, with the debt-laden operator struggling to pay its dues with its vendor partners after it was saved from the brink of collapse by the Indian government in 2022, which acquired a 35.8 percent stake in the company.

The government is now the largest stakeholder in Vi, while Vodafone still has a stake of around 16.1 percent.

Vi finally launched its 5G mobile network in March following several delays.