Voda sells $1.8bn stake in Indus - Qoneqt
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    Ansari Uzair in India

    20 Jun 05:22 AM


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    Voda sells $1.8bn stake in Indus

    Vodafone Group sells 18% stake in Indus Towers to reduce debt, generating $1.8 billion. Acquiring 1% of shares, Bharti Airtel increases stake to 49% in the telecom industry. Sale of 48.5 crore Indus shares at Rs 310-341 per share for debt repayment. Gross proceeds of 1.7 billion euros will be used to repay debt, including borrowings against Vodafone Idea.