This in turn will help Vodafone Idea divest its stake in the tower arm to raise funds. This is a big positive for Vodafone Idea," a person aware of the matter said, requesting anonymity. Vodafone Idea has a 11.15% stake in Indus Towers, which it plans to monetise after the tower merger. The approval comes days after a series of meetings between Vodafone Idea chairman Kumar Mangalam Birla and top government officials. and Bharti Infratel Ltd hold 42% each in Indus Towers, while Vodafone Idea Ltd owns 11.15% and US-based private equity fund Providence owns 4.85%.

Source: Mint February 21, 2020 16:02 UTC