Vodafone Idea Ltd., the debt-strapped Indian wireless carrier, sold its stake in a telecommunications tower firm for 37.6 billion rupees ($506 million), as part of efforts to shore up its strained finances.
The local arm of Vodafone Group Plc disposed of the 11.15% holdings in Indus Towers Ltd. to existing shareholders, the company said in a filing late Thursday. After the transaction, Bharti Infratel Ltd. will own 36.7% of Indus Towers, British operator Vodafone 28.1%, with the rest held by investors including KKR & Co. and Canada Pension Plan Investment Board.
However, Vodafone Idea won’t receive all ...
