Vodafone Sells Complete Indus Towers Stake for Rs 2,800 Crore, Settles Dues - PRESS AI WORLD
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Vodafone Sells Complete Indus Towers Stake for Rs 2,800 Crore, Settles Dues

share-iconPublished: Friday, January 10 share-iconUpdated: Friday, January 10 comment-icon10 months ago
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INDIATIMES
Vodafone Sells Complete Indus Towers Stake for Rs 2,800 Crore, Settles Dues

Credited from: INDIATIMES

  • Vodafone has sold its entire stake in Indus Towers, totaling Rs 2,800 crore, as announced on Friday.
  • The sale involved 7.92 crore shares representing 3% of Indus Towers' outstanding share capital.
  • Proceeds of Rs 890 crore from the sale were used to settle dues with lenders.
  • Vodafone has increased its stake in Vodafone Idea Limited to 24.39% from 22.56% using the remaining funds.
  • The sale concludes Vodafone's financial obligations under previous agreements with Indus Towers.

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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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