Vodafone holds a 44.39 per cent stake in Vodafone Idea, which at Thursday’s trading price is worth over Rs 18,000 crore. (Shutterstock)Vodafone Plc has pledged its entire stake in Vodafone Idea with seven foreign banks shortly after the country’s largest telecom operator issued new shares to promoters to raise funds to pare debt. Vodafone holds a 44.39 per cent stake in Vodafone Idea, which at Thursday’s trading price is worth over Rs 18,000 crore. In a regulatory filing to the bourses, the company said Vodafone Group companies have pledged their 44.39 per cent stake in Vodafone Idea. Vodafone Group holds a stake in Vodafone Idea through 12 entities based out of India and Mauritius.

Source: The Telegraph May 09, 2019 18:56 UTC