Vodafone to sell 3 pc stake in Indus Towers for ₹2,841 cr to clear debt, part payment of Vi dues

New Delhi, Dec 4 (PTI) British telecom company Vodafone will sell 3 per cent stake in Indus Towers to clear its debt of USD 101 or about ₹856 crore and use the residual amount to pay outstanding dues of its Indian venture Vodafone Idea.

The transaction is valued at around ₹2,841 crore as per the Wednesday’s closing price of Indus Towers stock at ₹358.75 apiece on the BSE.

“Vodafone Group Plc announces that it has launched a placing of its remaining 79.2 million shares in Indus Towers Limited representing 3 per cent of Indus’ outstanding share capital through an accelerated book build offering,” Vodafone said in a regulatory filing.