Vodafone sells remaining £269m stake in Indian telecoms group Indus Towers Vodafone has offloaded its shares in Indus Towers, the Indian telecoms group, for £269m.
Mumbai-based Vodafone Idea is India’s third largest mobile telecoms network, born out of a 2018 merger between Vodafone India and Idea Cellular.
The remainder, Vodafone revealed, has been utilised to increase its stake in Vodafone Idea, another Indian telecoms company, from 22.6% to 24.4%.
This comes as Vodafone has been striving to free up cash and enhance its financial performance by selling off parts of the business, including its Spanish division, after previously agreeing deals to sell its Hungarian and Ghanaian divisions.
The London-based company announced it had sold its 79.2 million shares in the firm on Friday, with approximately £85m being used to repay debts linked to its Indian assets.
