Vodafone Idea dismisses asset sale speculation

Vodafone Idea dismisses asset sale speculation

Vodafone Idea has issued a statement denying that it was in talks with investment firms over the potential sale of fibre and data centre assets.

While reports had linked the operator to both Brookfield Asset Management and Edelweiss Group, Vodafone Idea stated that it would immediately inform the stock exchange if its board were to make such a decision.

Vodafone Idea faces a colossal INR400 billion ($5.7 billion) after India’s Supreme Court ruled in favour of redefining adjusted gross revenue. Last week, its chairman Kumar Mangalam Birla said that government relief would be required to prevent the operator from shutting down operations.

The country’s number two player recently stated that it would look into generating funds through its data centre and fibre optic units.

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