India's Indus Towers15 Jun 2024 15:13
MUMBAI, June 14 (Reuters) - Vodafone Group (VOD.L) is looking to sell its entire $2.3 billion stake in India's Indus Towers, two sources with direct knowledge said, as part of the British firm's effort to repay debt.
Vodafone owns 21.5% of mobile-tower operator Indus via various group entities. As of Friday's closing stock price in Mumbai, the investment is worth $2.3 billion.
The final size of the stake sale is yet to be decided and could be lower than 21.5% if demand, which is still being assessed, is insufficient, said the sources, who declined to be named as the discussions were private.