Vodafone to Receive Rs 4,500 Crore from Stake Sale in Indus Tower Vodafone Idea has been instructed to pay their AGR dues till March 17, 2020. In the Recent developments, India’s second-largest telecom operator is expecting Rs 4,500 crore from the merger of Bharti Infratel and Indus Towers. Once the merger approval reaches the final stage, Vodafone Idea will receive the amount from its stake sale, and Oaktree capital will take their payment from the deal. Bharti and Vodafone PLC own 42% stake each in Indus Towers. Whereas, Vodafone Idea and providence holds 11.5% and 4.85% respectively in the merger. Bharti Infratel and Vodafone Idea have Locked Horns Vodafone Idea has to pay total AGR dues of Rs 53,000 crore out of which the telco giant has already paid Rs 3,500 crore. As per the sources of ET, the deal between Vodafone Idea and Bharti Group was supposed to happen in an all-cash contract after the dues have been cleared. However, no agreement has been signed according to the sources of the Bharti Group. In an exchange filing, Bharti Infratel stated that “the board has further extended the date of merger till April 24 which will be subjected agreements on closing adjustments and other conditions, with each party retaining the right to cancel and withdraw the scheme.” However, spokespersons for Vodafone Idea and Bharti Infratel have not responded to queries put up by ETBFSI.
