Vodafone weighs stake transfer to boost India unit capital
The UK telecom group is exploring a transfer of part of its 19% stake in Vodafone Idea to the Indian unit treasury. This move aims to support debt raising efforts and help the carrier invest in growth following a government reduction in outstanding spectrum fees.
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VODAFONE GROUP PLC is considering transferring part of its 19% stake in VODAFONE IDEA LTD to the Indian unit's treasury. The move follows the India government slashing the carrier's outstanding spectrum dues from 876.95 billion rupees to 640.46 billion rupees. This non-cash capital boost aims to unlock 350 billion rupees in fresh bank loans for the struggling operator.
