Vodafone Idea's equity stake in Indus Towers

On 26 October 2019

With regards to communication dated 25 April 2018, to merger of Indus, the Company is holding 11.15% equity stake with Bharti lnfratel. Further, it is announced that it has not been possible to satisfy all the conditions precedent, including that of DoT approval under the FDI Regulations, before the original Long Stop Date of 24th October, 2019. Based on the fall in the share price of Bharti lnfratel, movements in net debt at Bharti lnfratel and Indus to September 30th, 2019 and other agreed closing adjustments, it is expected that the Company will receive a lower cash payment vis-a-vis the illustrative amount disclosed at the time of the original transaction announcement.

Powered by Capital Market - Live News