Vodafone Group Stock News

The transaction will be done on the principal condition that the amount paid shall be inducted by Vodafone as fresh equity in Vodafone Idea Limited…

New Delhi [India], February 25 (ANI): Bharti Airtel said on Friday it has entered into an agreement with Vodafone to buy its 4.7 per cent equity stake in Indus Towers on conditions that the proceeds will be used for investments in debt-ridden Vodafone Idea and clearing dues of the mobile tower company. "Bharti Airtel has accordingly entered into an agreement with Vodafone to buy 4.7 per cent equity interest in Indus Tower

Telecom operator Bharti Airtel on Friday said it has signed an agreement to buy Vodafone''s 4.7 per cent stake in Indus Towers on the condition that the proceeds will be used for investment in Vodafone Idea and clearing its dues towards the mobile tower company.

Accordingly, Vodafone has to purchase fresh equity in VIL and simultaneously remit to Indus Towers to clear VIL’s outstanding dues

Bharti Airtel Ltd. has agreed to buy a 4.7% equity in Indus Towers Ltd. from Euro Pacific Securities Ltd., an affiliate of Vodafone Group Plc.

Bharti Airtel has signed an agreement to buy Vodafone''s 4.7 per cent stake in Indus Towers on the condition that the proceeds will be used for investment in Vodafone Idea and clearing dues of the mobile tower company.

The deal is conditional upon Vodafone infusing fresh equity in Vodafone Idea and simultaneously remitted to Indus Towers to clear VIL’s outstanding dues, Airtel said in a statement.

Bharti Airtel agrees to buy Vodafone''s 4.7 per cent stake in Indus Towers, with a condition.

Vodafone Plc, which owned 28.1% stake in Indus Towers, has announced its intent to sell entire stake in Indus Towers

UK’s Vodafone Group Plc raised around Rs 1,443 crore by selling a 2.4% stake in Indus Towers through a block deal to unnamed investors on Thursday.Vodafone sold 63.6 million shares held by unit Euro Pacific Securities at Rs 226.84 a share, bulk deal data released late Thursday night on the NSE showed. After the block deal, Vodafone UK’s stake in the telecom tower company reduced to 25.7%.The British telco, which held a 28.1% stake in Indus, said on Wednesday that it would sell a 2.4% stake on Thursday through a block deal and was also in talks with one of the tower firm''s largest shareholders to sell another 4.7%. People aware of the matter told ET that Bharti Airtel was this shareholder.The UK company has also said it was in talks with “several interested parties” to sell its balance stake in the tower company.Vodafone said the cash it raised via these stake sales would be infused in loss-making Vodafone Idea (Vi). The UK company and India’s Aditya Birla Group wish to subscribe to an issue of equity shares by Vi in their capacity as co-promoters.Shares of Indus Towers crashed more than 18% to Rs 205.75 on the BSE Thursday.

Vodafone Idea Limited (VIL), one of the India''s leading telecom operator, has announced its collaboration with A5G Networks Inc to enable industry 4.

Vodafone cautioned the terms of a deal to offload its Indus Towers stake are being worked out, with no certainty it will close.

On Wednesday, Vodafone Group Plc said it plans to sell 2.4% of its stake in Indus through a block deal on Thursday, and is also in talks with one of the tower company’s largest shareholders to sell another 4.7%. The UK company further said that it was in talks with ''''several interested parties'''' to also sell its residual (read: 21%) stake in the tower company.

By Paul Sandle and Kate Holton LONDON (Reuters) – Vodafone boss Nick Read believes competition regulators have eased their opposition to takeovers; all that remains is to test the theory by triggering a deal that could lead to a wave of European consolidation and appease long-suffering investors.

Vodafone boss Nick Read believes competition regulators have eased their opposition to takeovers; all that remains is to test the theory by triggering a deal that could lead to a wave of European consolidation and appease long-suffering investors.