Vodafone sells 18% in Indus Towers for `15k cr

New Delhi: British telecom player Vodafone on Wednesday said it has sold an 18 per cent stake in Indus Towers for 1.7 billion euro (Rs15,300 cr).The company will use the major portion of the proceeds to pay 1.8 bn euro outstanding bank borrowings secured against Vodafone’s assets in India.

“Vodafone Group Plc sold 484.7 million shares in Indus Towers Limited, representing 18 per cent of Indus' share capital through an accelerated book-build offering.