LONDON (dpa-AFX) - Vodafone Group Plc (VOD.L), a telecommunications company, Wednesday said it has sold 484.7 million shares or 18 percent stake in Indus Towers Limited through an accelerated book-build offering to raise 1.7 billion euros.
The company plans to use the proceeds to repay a substantial part of bank borrowings of 1.8 billion euros secured against Vodafone's Indian assets.
Following the offering, Vodafone holds 82.5 million shares or 3.1 percent stake in Indus.
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