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Vodafone (VOD) Considers Selling Tower Assets to Trim Debt Burden [Yahoo! Finance]
Vodafone Group Plc - American Depositary Shares each representing ten Ordinary Shares (VOD)
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Source: Yahoo! Finance
US:NASDAQ Investor Relations: vodafone.com/content/index/investors.html
The strategic move is part of Vodafone's broader effort to address its substantial debt load. The British telecom giant holds a 21.5% stake in Indus Towers via various group entities. As of the most recent closing stock price in Mumbai, this investment is valued at approximately $2.3 billion. However, the exact size of the stake sale might be less than 21.5%, depending on market demand. The transaction is crucial for Vodafone as it seeks to alleviate its massive $42.2 billion net debt. The divestiture also aligns with Vodafone's 2022 announcement to sell its then-28% stake in Indus. However, progress has been slow, with only a small portion sold until now. Efforts to sell to rival telecom firms have not been fruitful, making stock market block deals a practical alternative. Indus Towers, a major player in the global tower industry with around 220,000 towers, counts Bharti Airtel among its shareholders. From an industry perspective, block deals are gaining traction in India's b
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VOD
SEC Filings
SEC Filings
- 6/26/24 - Form 6-K
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- 6/25/24 - Form 424B2
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