Vodafone Idea to Cash Out Up to Rs 6,000 Crore Following Merger of Indus Tower and Bharti Infratel

Vodafone Idea’s stake sellout in Indus Towers given its merger with Bharti Infratel has been floating around in the form of headlines in the industry for quite some time now. But, now Vodafone Idea is nearing its big cashout from the tower firm as the days of the merger draw nearer. As per an ET Telecom report, Vodafone Idea, the second-largest telecom operator by subscriber base is close to selling its stake in Indus Towers as the merger of the tower companies is in final stages. According to the sources close to the matter, Vodafone Idea is likely to bag Rs 5,500 to Rs 6,000 crore from this deal.

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Vodafone Idea Currently Holding 11.5% Stake in Indus Towers 

One of the persons informing about the matter said, “In the two-stage transaction, Bharti Infratel will first buy out the stakes of Vodafone Idea and Providence Equity Partners.” He further added, “Subsequently, Indus Towers will be merged with Bharti Infratel.” Vodafone India and Idea Cellular merged their operations during the times of bleeding telecom industry and financial troubles last year. As its synergy and capex plans come to fruition, the telecom operator is seeking to raise funds from various sources. The operator is also looking forward to a Rs 25,000 crore rights issue. In the past four quarters combined, the telecom company has registered losses of Rs 19,734 crores. It is also crucial to note that Vodafone Idea holds 11.15% stake in Indus Towers.