Vodafone's Potential Sale of Indus Towers Stake Unlikely to Change Its Credit Profile -- Market Talk

Dow Jones06-17

0857 GMT - Vodafone Group's sale of its full stake in Indus Towers remains uncertain, but is unlikely to change its credit profile, ING analyst Jan Frederik Slijkerman writes in a research note. Potential proceeds from the sale of its 21.5% equity stake could amount to around $2.3 billion and are likely to be used for debt reduction, Slijkerman says. However, a sale wouldn't change the U.K. telecommunication group's credit profile, as it will be of relatively limited value compared to the company's value, the analyst adds. Shares are up 1.2% at 69.78 pence. (najat.kantouar@wsj.com)

(END) Dow Jones Newswires

June 17, 2024 04:57 ET (08:57 GMT)

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However, a sale wouldn't change the U.K. telecommunication group's credit profile, as it will be of relatively limited value compared to the company's value, the analyst adds. Shares are up 1.2% at 69.78 pence. 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