Vodafone is expected to pare its 18% stake in Indus Towers in a block deal, with a floor price range of Rs 310-341 per share. Brokers Bank of America, Morgan Stanley, and BNP Paribas are expected to be involved in the deal. The transaction is seen as a positive move for Vodafone, which may use the proceeds to pay off debt and potentially invest in the company. There is also speculation that Bharti Airtel may increase its stake in the entity, currently at 47.95%, to 50%. Stay updated on the latest business news and stock market updates through Zee Business.
Background:
Indus Towers is India's leading telecom tower company, with a vast network of over 163,000 towers. Vodafone Idea Ltd., Bharti Airtel Ltd., and the Aditya Birla Group are the three major shareholders of Indus Towers, holding 18%, 47.95%, and 25.5%, respectively.
Recent Developments:
Google search indicates that Vodafone Idea is in discussions to sell a portion of its stake in Indus Towers to raise funds and reduce debt. Brokers such as Bank of America, Morgan Stanley, and BNP Paribas have been appointed to manage the block deal. The floor price range for the deal is reportedly between Rs 310 and Rs 341 per share.
Market Speculation:
The potential sale of Vodafone Idea's stake has sparked speculation that Bharti Airtel may increase its holding in Indus Towers. Airtel currently holds the largest stake in the company and has reportedly been looking to acquire a majority ownership. This move would strengthen Airtel's position in the telecom infrastructure sector.
FAQs:
Vodafone Idea is facing financial constraints and may use the proceeds from the stake sale to pay off debt and potentially invest in the company.
The sale of the stake could reduce Vodafone Idea's influence in Indus Towers, which is the backbone of its network infrastructure. However, it could also provide the company with much-needed cash flow.
Increasing its stake in Indus Towers would give Airtel greater control over the company and its tower assets. This could improve Airtel's network quality and reduce costs.
The floor price range for the block deal is reportedly between Rs 310 and Rs 341 per share.
The timeline for the deal is unclear, but it is expected to take place in the coming weeks or months.
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