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The Times of India
The Times of India
Business
PTI

Airtel to acquire Vodafone's 4.7% stake in Indus Towers if funds are used for VIL

Indus Towers Vodafone Airtel VIL Indus Bharti Airtel Vodafone Idea New Delhi

NEW DELHI: Telecom operator Bharti Airtel on Friday said it has signed an agreement to buy Vodafone's 4.7 per cent stake in Indus Towers on the condition that the proceeds will be used for investment in Vodafone Idea and clearing its dues towards the mobile tower company.

Debt-ridden Vodafone Idea (VIL) has been unable to pay dues to Indus Towers and both VIL and promoter Vodafone have proposed a payment plan to clear the outstanding amount by July 15.

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