Vodafone Group intends to sell its entire $2.3 billion stake in Indus Towers through block deals next week, aiming to reduce its debt significantly. The move follows earlier plans to offload its 28% stake, with Bharti Airtel as Indus Towers’ largest shareholder at 47.95%. Vodafone has engaged Bank of America, Morgan Stanley, and BNP Paribas for managing the stake sale, with the final size contingent on market demand. Indus Towers, pivotal in India’s telecom infrastructure, reported a 32.4% rise in profit to Rs 1,853 crore and a 6.5% increase in revenues to Rs 7,193 crore for Q1 FY24.
Vodafone Plans $2.3 Billion Stake Sale in Indus Towers to Trim Debt
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