Voda Idea says fiber infrastructure biz demerged to Vodafone Towers

Telecom operator Vodafone Idea on Wednesday said its fiber infrastructure undertaking has been demerged to its wholly-owned subsidiary Vodafone Towers Limited, after the completion of necessary sanctions and formalities.

"...the scheme has become effective and consequently the fiber infrastructure undertaking of the company stands demerged from the company to VTL," Vodafone Idea said in a regulatory filing.

This follows sanction of the scheme between the company and Vodafone Towers Ltd (VTL) for transfer of fiber infrastructure undertaking to VTL by way of demerger, and filing of the certified copy of the order with Registrar of Companies on October 15, 2019, it added.