UK’s Vodafone to chop Indus Towers stake

Vodafone Group Plc of the UK has launched the inserting of 63.6 million main shares in Indus Towers Ltd by an accelerated e book construct providing. This represents 2.4 per cent of Indus’ excellent share capital.

Vodafone mentioned it’s also in superior discussions with one of many largest shareholders in Indus for the acquisition of as much as 127.1m Indus shares from Vodafone, or 4.7 per cent of Indus’ excellent share capital, which represents the remaining stability of main shares. The phrases of such an settlement are at the moment being mentioned and there may be no certainty that the sale will proceed. “Should the sale be completed, Vodafone would retain 567.2 million shares in Indus, or a 21.0 per cent shareholding,” it mentioned in a submitting on the London Stock Exchange.

Vodafone can also be in discussions with a number of events in relation to a possible sale of the residual shareholding. An additional announcement will probably be made as quickly as practicable if any additional offers are reached, it mentioned.