In a mood to sell its entire stake in the Vodafone tower company, the stock rocketed

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Vodafone Group’s entire $2.3 billion stake in mobile tower operator Indus Towers could be sold in a block deal next week. Vodafone owns 21.5% stake in Indus through separate group entities and values ​​it at $2.3 billion. Vodafone has hired Bank of America, Morgan Stanley and BNP Paribas to help manage the deal, according to news agency Reuters.

However, neither Vodafone India nor UK parent company Vodafone has given any official reaction. Indus Towers has also refused to comment on this. Let us tell you that Vodafone-Idea has planned to increase its business through 5G network and 4G coverage. For this the company wants to raise huge funds.

Airtel rejected

Recently there were reports that Airtel is in talks to buy Vodafone Group’s approximately 21 percent stake in Indus Towers. Airtel has reacted to this news. Airtel told the stock market that it has no intention to increase its stake in Indus. Bharti Airtel currently holds 47.95 percent stake in Indus Towers.

Airtel said – We would like to clarify that Bharti Airtel is not in any talks with Vodafone Group to buy stake in Indus Towers Limited. Let us tell you that Indus Towers provide vital infra services to the telecom industry and Airtel is largely dependent on them for telecom services.

Share status

As for the shares of Indus Towers, on Friday it was Rs. closed at 340.80. At the same time, shares of Voda-Idea rose sharply and surged 4.11% to Rs. It closed at 16.73. On January 1, the price of this share reached 18.42 rupees. The stock also has a 52-week high.

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