diff --git a/winsup/cygwin/fhandler_serial.cc b/winsup/cygwin/fhandler_serial.cc
index b6d1e4f4c..1750a9f97 100644
--- a/winsup/cygwin/fhandler_serial.cc
+++ b/winsup/cygwin/fhandler_serial.cc
@@ -34,19 +34,20 @@ void __reg3
 fhandler_serial::raw_read (void *ptr, size_t& ulen)
 {
   OVERLAPPED ov = { 0 };
-  DWORD io_err;
+  DWORD io_err, event;
   COMSTAT st;
   DWORD bytes_to_read, read_bytes;
   ssize_t tot = 0;
+  bool wait_for_vmin, ret;
 
   if (ulen > SSIZE_MAX)
     ulen = SSIZE_MAX;
   if (ulen == 0)
     return;
 
-  /* If VMIN > 0 in blocking mode, we have to read at least VMIN chars,
-     otherwise we're in polling mode and there's no minimum chars. */
-  ssize_t minchars = (!is_nonblocking () && vmin_) ? MIN (vmin_, ulen) : 0;
+  /* If VMIN > 0 in blocking mode, we have to wait for at least VMIN chars.
+     Otherwise we're in polling mode and there's no minimum chars. */
+  ssize_t minchars = is_nonblocking () ? 0 : vmin_;
 
   debug_printf ("ulen %ld, vmin_ %u, vtime_ %u", ulen, vmin_, vtime_);
 
@@ -54,6 +55,8 @@ fhandler_serial::raw_read (void *ptr, size_t& ulen)
 
   do
     {
+      wait_for_vmin = false;
+
       /* First check if chars are already in the inbound queue. */
       if (!ClearCommError (get_handle (), &io_err, &st))
 	goto err;
@@ -82,14 +85,22 @@ fhandler_serial::raw_read (void *ptr, size_t& ulen)
 	     and don't wait. */
 	  if (st.cbInQue && st.cbInQue >= minchars)
 	    bytes_to_read = MIN (st.cbInQue, bytes_to_read);
+	  /* Otherwise, if VMIN > 0, VTIME == 0, we have to wait until
+	     VMIN bytes are available in the inbound queue. */
+	  else if (minchars && !vtime_)
+	    wait_for_vmin = true;
 	}
 
       ResetEvent (ov.hEvent);
-      if (!ReadFile (get_handle (), ptr, bytes_to_read, &read_bytes, &ov))
+      if (wait_for_vmin)
+	ret = WaitCommEvent (get_handle (), &event, &ov);
+      else
+	ret = ReadFile (get_handle (), ptr, bytes_to_read, &read_bytes, &ov);
+      if (!ret)
 	{
 	  if (GetLastError () != ERROR_IO_PENDING)
 	    goto err;
-	  if (is_nonblocking ())
+	  if (!wait_for_vmin && is_nonblocking ())
 	    {
 	      CancelIo (get_handle ());
 	      if (!GetOverlappedResult (get_handle (), &ov, &read_bytes,
@@ -134,12 +145,15 @@ fhandler_serial::raw_read (void *ptr, size_t& ulen)
 		}
 	    }
 	}
-      tot += read_bytes;
-      ptr = (void *) ((caddr_t) ptr + read_bytes);
-      ulen -= read_bytes;
-      minchars -= read_bytes;
-      debug_printf ("vtime_ %u, vmin_ %u, read_bytes %u, tot %D",
-		    vtime_, vmin_, read_bytes, tot);
+      if (!wait_for_vmin)
+	{
+	  tot += read_bytes;
+	  ptr = (void *) ((caddr_t) ptr + read_bytes);
+	  ulen -= read_bytes;
+	  minchars -= read_bytes;
+	  debug_printf ("vtime_ %u, vmin_ %u, read_bytes %u, tot %D",
+			vtime_, vmin_, read_bytes, tot);
+	}
       continue;
 
     err: