Vodafone Idea shares jump over 2% on divestment move

Shares of Vodafone Idea gained 2.15% in Tuesday’s early morning trade, January 07, to reach ₹8.06 apiece after the company informed investors through an exchange filing on Monday that it had entered into a share purchase agreement with iBUS Network and Infrastructure Private Limited for the transfer of the company’s entire shareholding.

“The company has entered into a share purchase agreement with iBUS Network and Infrastructure Private Limited for the transfer of the company’s entire shareholding (i.e., 50%) in Firefly Networks Limited. (“Firefly”), subject to completion of closing conditions, for a consideration of Rs. 45 million.