Vodafone Group’s entire $2.3 billion stake in mobile-tower operator Indus Towers could be sold through a block deal next week. Vodafone holds 21.5% stake in Indus through different group entities and is valued at $2.3 billion. According to news agency Reuters, Vodafone has reportedly hired Bank of America, Morgan Stanley and BNP Paribas to help manage the deal.
However, Vodafone India or UK parent company Vodafone has not given any official response. Indus Towers has also refused to comment on this. Let us tell you that Vodafone-Idea has planned to expand its business through 5G network and 4G coverage. For this the company wants to raise big funds.
Airtel had rejected
Recently there were reports that Airtel is in talks to buy Vodafone Group’s approximately 21 percent stake in Indus Towers. Airtel reacted to this news. Airtel told the stock market that it has no intention of increasing its stake in Indus. Bharti Airtel currently holds 47.95 percent stake in Indus Towers.
Airtel had said – We want to clarify that Bharti Airtel is not in any kind of talks with Vodafone Group to acquire stake in Indus Towers Limited. Let us tell you that Indus Towers provides important infra services to the telecom industry and Airtel is largely dependent on it for telecom services.
share status
Talking about Indus Towers share, it closed at Rs 340.80 on Friday. At the same time, there was a strong rise in the shares of Voda-Idea and it closed at Rs 16.73 with a jump of 4.11%. On January 1, the price of this share reached Rs 18.42. This is also the 52-week high of the stock.
