Vodafone said to weigh move to transfer part of India unit stake

(Bloomberg) — Vodafone Group Plc is working on a proposal to shore up the capital of its listed Indian affiliate, as the venture seeks to turn over a new leaf after the Indian government cut a bill for outstanding spectrum fees, people with knowledge of the matter said.

The UK telecom company, which owns 19% of Mumbai-listed Vodafone Idea Ltd., is considering transferring part of its shareholding to the Indian company to hold in treasury, the people said.