19.06.2024 08:20:33 - dpa-AFX: Vodafone Sells 18% Stake In Indus Towers To Repay Debts
LONDON (dpa-AFX) - Vodafone Group Plc (VOD.L), a telecommunications company,
Wednesday said it has sold 484.7 million shares or 18 percent stake in Indus
Towers Limited through an accelerated book-build offering to raise 1.7 billion
euros.
The company plans to use the proceeds to repay a substantial part of bank
borrowings of 1.8 billion euros secured against Vodafone's Indian assets.
Following the offering, Vodafone holds 82.5 million shares or 3.1 percent stake
in Indus.
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