Vodafone To Sell $2.3 Billion Stake In India's Indus Towers: Report
NDTV
Vodafone owns 21.5% of mobile-tower operator Indus via various group entities. As of Friday's closing stock price in Mumbai, the investment is worth $2.3 billion.
Vodafone Group is looking to sell its entire $2.3 billion stake in India's Indus Towers through stock market block deals next week, two sources with direct knowledge said, as part of the British firm's effort to repay debt.
Vodafone owns 21.5% of mobile-tower operator Indus via various group entities. As of Friday's closing stock price in Mumbai, the investment is worth $2.3 billion.
The final size of the stake sale is yet to be decided and could be lower than 21.5% if demand, which is still being assessed, is insufficient, said the sources, who declined to be named as the discussions were private.
