Vodafone: sells 18% stake in India's Indus Towers

(CercleFinance.com) - On Wednesday Vodafone announced that it had sold 484.
7 million Indus Towers shares, representing 18% of the Indian mobile towers group, via an accelerated placement.

Vodafone states that the proceeds of the transaction, estimated at E1.7bn, will enable it to repay certain bank loans.

Following the transaction, Vodafone will still hold 82.5 million Indus shares, or 3.1% of its capital.

On the London Stock Exchange, Vodafone shares were up 1.1% in early trading on Wednesday.


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