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Vodafone Idea to divest stake in Indus Towers after Infratel merger

The Indus-Infratel merger has received foreign direct investment (FDI) approval and is slated to be completed by August 31.

July 01, 2020 / 09:54 AM IST

Telecom major Vodafone Idea is planning to monetise its 11.15 percent stake in Indus Towers on completion of its merger with Bharti Infratel.

The Indus-Infratel merger has received foreign direct investment (FDI) approval and is slated to be completed by August 31.

The company reported a loss of Rs 11,643.5 crore for the fourth quarter of FY20 - driven by statutory dues and a decaying subscriber base.

In Q3 FY 20 loss stood at Rs 6,439 crore.