Business
Vodafone sells 18.0% stake in Indus Towers
Vodafone sells 18.0% stake in Indus Towers.
About this update from Vodafone Group Public Limited Company
[{"type":"text","content":"\n\n19 June 2024\n\n\n\n\n\n\n\n\n\nVodafone sells 18.0% stake in Indus Towers\n\n\n\n\n \nVodafone Group Plc (\"Vodafone\") announces that it has sold 484.7 million shares in Indus Towers Limited (\"Indus\"), representing 18.0% of Indus' share capital through an accelerated book-build offering (\"Placing\").\n \nThe Placing raised INR 153.0 billion (€1.7 billion) in gross proceeds which will be used to substantially repay Vodafone's existing lenders in relation to the outstanding bank borrowings of €1.8 billion secured against Vodafone's Indian assets.\n \nFollowing the Placing, Vodafone holds 82.5 million shares in Indus, equivalent to a 3.1% shareholding.\n \n- ends -\n \n \n\n\n\n\nFor more information, please contact:\n\n\n\n\nInvestor Relations:\n\n\ninvestors.vodafone.com\n\n\[email protected]\n\n\nMedia Relations:\n\n\nVodafone.com/media/contact\n\n\[email protected]\n\n\n\n\nRegistered Office: Vodafone House, The Connection, Newbury, Berkshire RG14 2FN, England. Registered in England No. 1833679\n\n\n\n\nAbout Vodafone \n \nVodafone is a leading European and African telecoms company. We provide mobile and fixed services to over 330 million customers in 15 countries (excludes Italy which is held as a discontinued operation under Vodafone Group), partner with mobile networks in 45 more and have one of the world's largest IoT platforms. In Africa, our financial technology businesses serve almost 79 million customers across seven countries - managing more transactions than any other provider.\n \nOur purpose is to connect for a better future by using technology to improve lives, businesses and help progress inclusive sustainable societies. We are committed to reducing our environmental impact to reach net zero emissions by 2040.\n \nFor more information, please visit www.vodafone.com, follow us on X at @VodafoneGroup or connect with us on LinkedIn at www.linkedin.com/company/vodafone.\n \n \n\n","length":5576,"tagName":"div"}]