According to a regulatory filing, Vodafone Idea has demerged its fibre infrastructure by transferring the assets to its wholly owned subsidiary, Vodafone Towers Limited (VTL). This will help the telecom company to monetise its optic fibre assets, earlier pegged at around $430-450 million.
The move comes at a time when the net finance costs of Vodafone Idea had witnessed an increase of 23 per cent during the quarter ended June 2019.
The company had raised Rs 250 billion through a rights issue in May 2019. However, it needs more capital for 4G expansion and for clearing its spectrum dues to the government.
