Vodafone- Idea to sell 20,000 towers to USA based company- American Tower Corporation (#ATC).
Deal decided for $1.2 Bill. (INR 7.850 Cr.) In cash.
Would help both companies to rid debts.
The deal would earn -
Voda to get $ 592 mill (INR 2850 Cr.)
Idea to get $ 615 mill (INR 4000 Cr.)
The deal is sited to be completed by mid-2018.
Voda & Idea also thinking of selling the stake in Indus Towers.
Voda to disinvest- 42%.
Idea to invest 11.5%
Idea → Q2 results-
→ Net loss Sept 2017- INR 1107.7 Cr.
→ Net loss Sept 2016- INR 815 Cr.