Vodafone Idea shareholders approve Rs 1600-crore convertible debentures issue to ATC

Mumbai: Vodafone Idea shareholders Saturday approved the Rs1600-crore preferential issuance of optionally convertible debentures to American Tower Corporation (ATC), a move which will allow the cash-strapped telco to pay off most of the US tower company’s dues.

“An Extra-ordinary General Meeting (“EGM”) of the Company was held on Saturday, 25th February, 2023 at 4:00 p.m. (IST) through Video Conference / Other Audio-Visual…,” Vodafone Idea said in a statement to the Bombay Stock Exchange.