India, Jan. 7 -- Telecom operators Bharti Airtel and Vodafone Idea have reportedly signed a share purchase agreement with iBus Network and Infrastructure Pvt to transfer their entire stake in joint venture Firefly Networks Ltd.

Both the telecom companies currently hold a 50% stake in Firefly Networks, which will be sold to iBus Network for a total cash consideration of INR 4.5 Cr each, as per exchange filings, cited by the ET.

The deal is anticipated to close within 30 business days from the execution date of the agreement between the parties. Upon completion, Firefly Networks will cease to be a joint venture of Bharti Airtel and Vodafone Idea.

According to the filing, the transaction is not classified as a related-party transaction an...