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VOD Jun 2024 9.000 put
- Reuters
UK's Vodafone sells $1.8 billion stake in India's Indus Towers; Airtel boosts stake
MUMBAI (Reuters) -Vodafone Group has sold a bigger-than-planned 18% stake in India's Indus Towers, raising $1.82 billion that will serve to reduce its debt, the British telecom group said on Wednesday. Bharti Airtel, India's no. 2 telecom company, said it bought about 1% of Indus shares in the transaction, bringing its stake in the mobile tower operator to around 49%. Vodafone, which owned 21.5% of Indus prior to the sale, had initially planned to sell a 10% stake but strong investor demand made it nearly double the sale size, according to a banking source familiar with the matter who requested anonymity because the person was not authorised to speak to the media.
- Reuters
Vodafone to sell 10% stake in India's Indus Towers for up to $1.1 billion, term sheet shows
BENGALURU (Reuters) -Vodafone Group will sell about 10% stake in India's Indus Towers for as much as $1.1 billion on Wednesday, per a term sheet seen by Reuters, as a part of the British firm's efforts to repay debt. Last week, Reuters reported that Vodafone was mulling to sell its stake in mobile-tower operator Indus Towers, in which it owns a 21.5% stake via various group entities. Vodafone plans to repay part of its $42.17 billion net debt using proceeds from the Indus Towers stake sale, sources had told Reuters last week.
- Zacks
Vodafone (VOD) Considers Selling Tower Assets to Trim Debt Burden
Vodafone (VOD) is reportedly mulling the divestiture of its tower assets in India in order to repay debt and improve its liquidity.
