REG - Vodafone Group Plc - INDUS TOWERS STAKE SALE AND VI SHAREHOLDING

VodafoneAnnouncement

10/01/2025 07:15

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RNS Number : 8952S  Vodafone Group Plc  10 January 2025

10 January 2025

  INDUS TOWERS STAKE SALE AND VI SHAREHOLDING

 

Further to the announcement on 4 December 2024, Vodafone Group Plc
("Vodafone") announces that it has successfully completed the placing of its
remaining 79.2 million shares in Indus Towers Limited ("Indus") representing
3.0% of Indus' outstanding share capital through an accelerated book build
offering (the "Placing") on 5 December 2024.

The Placing raised INR 28.0 billion (US$330 million) in proceeds, of which INR
8.9 billion (US$105 million) has been used to fully repay outstanding
borrowings to Vodafone's existing lenders, secured against Vodafone's Indian
assets(1) and settle transaction fees.

Residual proceeds of INR 19.1 billion (US$225 million) have been used to
acquire 1.7 billion equity shares in Vodafone Idea Limited ('Vi') through a
preferential allotment of shares (a "Capital Raise"), increasing Vodafone's
shareholding in Vi to 24.39%(2) (from 22.56%). Vi have used the proceeds from
this Capital Raise to pay outstanding Master Service Agreement ("MSA") dues to
Indus. Following this, Vodafone's obligations to Indus under the Security
Arrangements(3) have now been satisfied in full.

- ends -

Notes

1.    These borrowings were included in Vodafone's reported borrowings but
excluded from Net Debt.

2.    The acquiring entities in Vi were Omega Telecom Holdings Private
Limited and Usha Martin Telematics Limited.

3.    Under the terms of the security arrangements entered into between
Vodafone and Indus (the "Security Arrangements"), Indus had a security over
the residual proceeds from the Placing (after repayment of Vodafone's
outstanding borrowings) to guarantee obligations from Vi to Indus under the
MSAs.

 

 For more information, please contact:
 Investor Relations:  i (https://investors.vodafone.com) nvestors.vodafone.com  ir@vodafone.co.uk (mailto:ir@vodafone.co.uk)  Media Relations:  Vodafone.com/media/contact (https://Vodafone.com/media/contact)  GroupMedia@vodafone.com (mailto:GroupMedia@vodafone.com)
                      (https://investors.vodafone.com)
 Registered Office: Vodafone House, The Connection, Newbury, Berkshire RG14
 2FN, England. Registered in England No. 1833679

 

About Vodafone

Vodafone is a leading European and African telecoms company. We provide mobile
and fixed services to over 330 million customers in 15 countries, partner with
mobile networks in 47 more and have one of the world's largest IoT platforms.
In Africa, our financial technology businesses serve almost 83 million
customers across seven countries - managing more transactions than any other
provider.

 

Our purpose is to connect for a better future by using technology to improve
lives, businesses and help progress inclusive sustainable societies. We are
committed to reducing our environmental impact to reach net zero emissions by
2040.

 

For more information, please visit www.vodafone.com (http://www.vodafone.com)
follow us on X at @VodafoneGroup or connect with us on LinkedIn at
www.linkedin.com/company/vodafone.
(https://www.linkedin.com/company/vodafone/mycompany/verification/)

 

 

 

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