American Tower Corp (ATC) requests Vodafone Idea India to convert $173.5m debentures to shares, following ATC's exit from the Indian market.
American Tower Corp (ATC) Telecom Infrastructure has requested Vodafone Idea Ltd in India to convert debentures worth $173.5m (14.4bn rupees) to shares. Vodafone Idea will allot ATC 1.44bn fully-paid up equity shares upon conversion of its 14,400 optionally convertible debentures (OCDs). This follows ATC's exit from the Indian market, with Brookfield Asset Management set to buy ATC's loss-making Indian operations for $2.5bn.
March 19, 2024
6 Articles