Canada's CDPQ in talks to buy Vodafone's Indus Towers stake - report

Canadian pension fund Caisse de depot et placement du Quebec (CDPQ) is reportedly in talks with Vodafone to buy the residual 21% stake it owns in Indus Towers, India’s largest mobile tower installation company.

According to The Economic Times, both sides have had management meetings and a formal due diligence is expected to start as the stake sale process has been revived in recent weeks.

It was understood that the discussions are still preliminary in nature and there is no guarantee they will translate into a transaction.

Spokespeople for CDPQ and Vodafone declined to comment to ET, while Indus Towers and Airtel did not respond to its requests for comment.