Vodafone Idea to seek shareholders nod for divesting optical fibre assets

Vodafone Idea said on Saturday it will seek its shareholders’ approval on June 6 to transfer optical fibre assets to a wholly-owned subsidiary, Vodafone Towers Limited.

The company has proposed to hive off its telecom fibre infrastructure to Vodafone Towers before monetising it and approached the National Company Law Tribunal Ahmedabad on April 11, 2019, for its approval.

“NCLT has directed a meeting to be held of the equity shareholders of the Applicant Company… notice is hereby given that a meeting of the equity shareholders of the Applicant Company will be held…on Thursday, the 6th day of June 2019,” Vodafone Idea said in a regulatory filing.