Vodafone sells remaining 3% stake in Indus Towers
By Michele Maatouk
Date: Wednesday 04 Dec 2024
(Sharecast News) - Vodafone said on Wednesday that it was selling its remaining 3% stake in India's Indus Towers.
The telecoms company launched a placing of its remaining 79.2m shares in Indus through an accelerated book build offering.
Vodafone said the proceeds will be used to repay outstanding borrowings of around $101m to its existing lenders, secured against its Indian assets.
The company had already sold an 18% stake in Indus Towers in June, raising $1.82bn.
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