News > Vodafone Group in talks with Airtel to sell up to 5% stake in Indus Towers

Vodafone Group in talks with Airtel to sell up to 5% stake in Indus Towers

British telecoms group Vodafone is looking to offload its 5% stake in tower firm Indus Towers Ltd to Bharti Airtel, the telecom group said on Wednesday.

The proceeds will be pumped into the Indian entity Vodafone Idea, the report further said. The development comes after a challenging period for Vodafone in India, where its local arm, Vodafone Idea, has faced intense competition and lost millions of wireless subscribers to Reliance's Jio and Bharti Airtel.