GQG Said to Invest Around $400 Million in Ailing Vodafone Idea [BNN Bloomberg (Canada)]
Vodafone Group Plc - American Depositary Shares each representing ten Ordinary Shares (VOD)
US:NASDAQ Investor Relations:
vodafone.com/content/index/investors.html
Company Research
Source: BNN Bloomberg
week, according to people familiar, in a vote of confidence in the unprofitable Indian wireless operator. GQG will place bids for equity worth at least $300 million and as much as $400 million in a follow-on public offer being floated by the joint venture between Vodafone Group Plc and the Aditya Birla Group, said people familiar with the discussions who did not want to identified as the information is not public. Other institutional investors are also expected to buy into the sale, they added. The $2.2 billion share sale, which will start on April 18 and close April 22, has a floor price of 10 rupees (12 cents) per share and a ceiling price of 11 rupees, the Mumbai based firm said in exchange filings last week. Representatives of Vodafone Idea and GQG Partners did not offer any immediate comments. The backing from GQG is a major shot in the arm for Vodafone Idea. The telecom operator has been plagued by financial losses and an eroding subscriber base as users switched to stro
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VOD
Sec Filings
- 4/16/24 - Form 6-K
- 4/2/24 - Form 6-K
- 3/28/24 - Form 6-K
- VOD's page on the SEC website