Citigroup sells Vi’s shares for over Rs 2.33 billion (India)
Citigroup has offloaded its shares of Vodafone Idea Limited (Vi) for over Rs 2.33 billion through an open market transaction. According to the Bombay Stock Exchange (BSE), Citigroup, through its affiliate, Citigroup Global Markets Mauritius, has offloaded 190,425,000 shares of Vi through a block deal on the BSE. The shares were disposed of at an average price of Rs 12.27 apiece, taking the transaction value to Rs 2.33 billion.
DoT identifies 600 land parcels and buildings owned by BSNL and MTNL for outright sale
The Department of Telecommunications (DoT) has identified around 600 land parcels and buildings owned by Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL) for outright sale to government departments, public sector undertakings and government organisations. Through land monetisation, DoT is looking to reduce the debt of both telcos. These properties could fetch the government over Rs 200 billion.
Vi’s shareholders approve raising of authorised share capital to Rs 1 trillion
Vi’s shareholders have approved a proposal to raise its authorised share capital to Rs 1 trillion, and issue equity shares on a preferential basis to promoter group firm Oriana Investments. According to the regulatory filing, Vi had sought shareholders’ approval to raise the company’s authorised share capital to Rs 1 trillion from Rs 750 billion. As per the scrutiniser report of the extraordinary general meeting held on May 8, 2024, all special resolutions have been approved by the majority of the shareholders, with a minuscule percentage of voters opposing them.
Vi’s board approves allotment of equity shares worth Rs 20.75 billion to ABG entity
Vi’s board has cleared the allotment of equity shares to an Aditya Birla Group (ABG) entity that has infused Rs 20.75 billion of fresh capital into the telco via a preferential issue. According to the filing, the board has approved the issuance of up to 1,395,427,034 equity shares (with a face value of Rs 10 each) at an issue price of Rs 14.87 per equity share (including a premium of Rs 4.87 per equity share), aggregating Rs 20.75 billion, to Oriana Investments Pte Limited on a preferential basis. As per the filing, Vi’s paid-up equity share capital has increased from Rs 664.83 billion to Rs 678.78 billion. Further, the allotment of shares to the ABG entity concludes Vi’s fundraising of over Rs 200 billion.
Birla TMT Holdings transfers its Vi shares worth Rs 353.7 million to Birla Group Holdings
According to a statutory filing, Birla TMT Holdings has transferred its Vi shares, worth Rs 353.7 million or 0.52 per cent stake, to Birla Group Holdings after an amalgamation scheme involving certain entities got the National Company Law Tribunal’s approval. The total Aditya Birla Group shareholding in Vi remains the same at 15.01 per cent, while the total promoter and promoter group shareholding in Vi remains the same at 38.17 per cent. Consequently, all assets and liabilities of the transferor companies were transferred to and vested in the transferee company (Birla Group Holdings) on May 24, 2024. In addition, Birla Group Holdings shall be categorised as a promoter of Vi.
Telkom SA’s shareholders approve sale of Swiftnet tower business worth $355 million to Actis (South Africa)
Telkom South Africa’s shareholders have approved the sale of its Swiftnet tower business, worth $355 million, to Actis. In a statement issued to the Johannesburg Stock Exchange, Telkom announced that the ordinary resolution required to implement the disposal was approved with the requisite majority of votes. However, the sale of Swiftnet to Actis remains subject to regulatory approvals and other conditions.
TowerCo of Africa secures $30 million investment from BII to build telecom sites (Tanzania)
TowerCo of Africa, Tanzania, has secured a $30 million investment from the British International Investment (BII) to build 200 additional telecommunications sites across the country, to bolster its mission of bridging the digital gap. The anticipated 200 new sites, strategically placed across the mainland and Zanzibar Islands, will significantly increase coverage, particularly in rural regions. It will link previously isolated populations, helping improve the lives of up to 600,000 people. Further, the new sites are expected to extend network coverage to underserved communities, support government digitisation efforts, foster financial inclusion and generate employment opportunities throughout their life cycle, from design and construction to maintenance.
BII, IFC and Proparco announce financing package worth Euro 87 million for Sonatel (Senegal)
IFC, BII and Proparco have partnered for a financing package for Sonatel to improve telecom infrastructure in Senegal and expand access to reliable and affordable mobile and fixed broadband services. The Euro 87 million sustainability-linked loan includes Euro 32 million from IFC, Euro 25 million from BII and Euro 30 million from Proparco. The funding will help Sonatel expand its telecommunications infrastructure, including towers and cables, particularly in rural areas.
KKR to invest $400 million in telecom tower operations in the Philippines (Philippines)
According to the United States Department of Commerce, KKR has plans to invest approximately $400 million in telecom tower operations in the Philippines. KKR will develop and acquire roughly 2,000 towers to support digital connectivity across the Philippines as part of its investment in Pinnacle Towers, which owns the largest independent telecom to
