Indus-Infratel to go ahead with merger; Voda-Idea to sell 11.15% Indus stake for Rs 4,000 crore

KOLKATA: Vodafone Idea Ltd (VIL) has decided to cash out by selling its 11.15 per cent stake in Indus Towers for roughly Rs 4,000 crore even as Bharti Infratel decided to go ahead with the closure of its mega towers merger with Indus.

Bharti Infratel said the likely ownership structure of the merged towers entity is based on “cash consideration chosen by VIL for its 11.15 per cent shareholding in Indus — based on an agreed formula – and on today’s calculation, the cash consideration comes to approximately Rs 4,000 crore”.