London/New Delhi: Vodafone Plc, the British telecommunications giant, has fully exited its stake in India-based Indus Towers by selling its remaining 3% holding. The strategic divestment marks Vodafone's complete withdrawal from one of the world's largest telecom tower companies.
The sale is in line with Vodafone's efforts to streamline its portfolio and reduce debt. The transaction was executed through block deals, with proceeds expected to strengthen Vodafone’s financial position. Market sources indicate the sale fetched approximately INR 1,440 crore (around USD 175 million), based on Indus Towers’ recent share price.
Indus Towers, a joint venture originally formed by Vodafone India, Bharti Airtel, and Idea Cellular, owns and operates over 185,000 telecom towers across India, providing crucial infrastructure for the country’s rapidly growing mobile and data services.
Vodafone’s gradual exit from Indus Towers comes as part of its broader strategy to focus on core markets and address financial pressures stemming from global operations. The company had been reducing its stake in Indus Towers over the past few years, following the merger of Bharti Infratel and Indus Towers in 2020.
Industry analysts view the move as a pragmatic decision for Vodafone Plc, enabling the company to focus on its European and African markets. For Indus Towers, the exit introduces opportunities for new investors to enter the telecom infrastructure sector, which has seen robust growth fueled by the rollout of 5G services and increasing mobile data consumption in India.
This development underscores Vodafone’s ongoing transformation strategy and highlights the evolving dynamics within India’s telecom sector.