Vodafone Offloads India's Indus Towers Stake To Trim $2.3B Debt

Benzinga06-14

Vodafone Group Public Limited Company (NASDAQ:VOD) reportedly plans to sell its entire $2.3 billion stake in India’s Indus Towers through stock market block deals next week. The move is part of the ...

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Based on Friday’s stock price in Mumbai, the investment is valued at $2.3 billion.As per the report, the final size of the stake sale is yet to be determined and could be lower than 21.5% if demand is insufficient.Vodafone intends to sell the stake through block deals in Indian stock markets next week and has enlisted several banks like Bank of America, Morgan Stanley, and BNP Paribas to handle the transaction.Vodafone U.K., a subsidiary ofVodafone, and Three U.K., owned byCK Hutchison Holdings Limited, disclosed a joint venture to consolidate their 27 million customers under one network provider.This article Vodafone Offloads India's Indus Towers Stak","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","BK4534":"瑞士信贷持仓","QID":"纳指两倍做空ETF","TQQQ":"纳指三倍做多ETF","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","BK4132":"无线电信业务","LU0106831901.USD":"贝莱德世界金融基金A2","PSQ":"纳指反向ETF","BK4588":"碎股","SQQQ":"纳指三倍做空ETF","QLD":"纳指两倍做多ETF","QQQ":"纳指100ETF","LU0971096721.USD":"富达环球金融服务 A",".IXIC":"NASDAQ Composite","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","BK4581":"高盛持仓","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4504":"桥水持仓","TDIV":"第一信托纳斯达克科技股利指数基金","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","BK4127":"投资银行业与经纪业","VOD":"沃达丰","BK4532":"文艺复兴科技持仓","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H"},"translate_title":"沃达丰出售印度Indus Towers股份以削减$2.3 B债务","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TDIV":1,"VOD":0.9,".IXIC":0.81,"TQQQ":0.6,"SQQQ":0.6,"QQQ":0.6,"QLD":0.6,"QID":0.6,"PSQ":0.6,"NQmain":0.6,"MNQmain":0.6},"content_text":"Vodafone Group Public Limited Company (NASDAQ:VOD) reportedly plans to sell its entire $2.3 billion stake in India’s Indus Towers through stock market block deals next week.\nThe move is part of the British firm’s strategy to repay debt, Reuters reports.\nVodafone currently owns 21.5% of mobile tower operator Indus Towers through various group entities. Based on Friday’s stock price in Mumbai, the investment is valued at $2.3 billion.\nAs per the report, the final size of the stake sale is yet to be determined and could be lower than 21.5% if demand is insufficient.\nVodafone intends to sell the stake through block deals in Indian stock markets next week and has enlisted several banks like Bank of America, Morgan Stanley, and BNP Paribas to handle the transaction.\nVodafone U.K., a subsidiary of Vodafone, and Three U.K., owned by CK Hutchison Holdings Limited, disclosed a joint venture to consolidate their 27 million customers under one network provider. \nInvestors can gain exposure to the VOD stock via First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) and Pacer Global Cash Cows Dividend ETF (NYSE:VWI).\nPrice Action: VOD shares traded lower by 0.51% at $8.71 at the last check on Friday.\nDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nPhoto by rafapress on Shutterstock.\n\"ACTIVE INVESTORS' SECRET WEAPON\" Supercharge Your Stock Market Game with the #1 \"news & everything else\" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!\nGet the latest stock analysis from Benzinga?\n\nThis article Vodafone Offloads India's Indus Towers Stake To Trim $2.3B Debt originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. 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