Vodafone to sell 10% stake in India's Indus Towers for up to $1.1 bln, term sheet shows

Indus Towers

18/06/2024 13:17

BENGALURU, June 18 (Reuters) - Vodafone Group  VOD.L 
plans to sell about 10% stake in India's Indus Towers  INUS.NS 
through stock market block deals in Mumbai, per a term sheet
seen by Reuters on Tuesday.
    Vodafone will sell roughly 268 million shares at a price
range of 310 rupees to 341 rupees per share, valuing the stake
between $996 million to $1.1 billion, the term sheet showed.
    Last week, Reuters reported that Vodafone was mulling to
sell its stake in Indus Towers as a part of the British firm's
effort to repay debt.
    Vodafone and Indus Towers did not immediately respond to
Reuters' requests for comment. 
    

 (Reporting by Sriram Mani and Indranil Sarkar; Editing by
Mrigank Dhaniwala)
 ((Indranil.Sarkar@thomsonreuters.com; Mobile:  +91
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