Vodafone sells remaining 3% stake in Indus Towers
Vodafone Group
67.60p
16:38 07/01/25
-0.59%
-0.40p
Vodafone said on Wednesday that it was selling its remaining 3% stake in India’s Indus Towers.
FTSE 100
8,245.28
17:14 07/01/25
n/a
n/a
FTSE 350
4,537.45
17:14 07/01/25
n/a
n/a
FTSE All-Share
4,493.46
16:44 07/01/25
n/a
n/a
Mobile Telecommunications
1,987.39
16:59 24/01/22
-1.01%
-20.29
The telecoms company launched a placing of its remaining 79.2m shares in Indus through an accelerated book build offering.
Vodafone said the proceeds will be used to repay outstanding borrowings of around $101m to its existing lenders, secured against its Indian assets.
The company had already sold an 18% stake in Indus Towers in June, raising $1.82bn.