Vodafone Idea shares jump over 2% on divestment move

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Shares of Vodafone Idea gained 2.15% in Tuesday’s early morning trade, January 07 to reach ₹8.06 apiece after company informed investors through an exchange filing on Monday that it had entered into a Share Purchase Agreement with iBUS Network and Infrastructure Private Limited for transfer of Company’s entire shareholding. 

“The Company has entered into a Share Purchase Agreement with iBUS Network and Infrastructure Private Limited for transfer of Company’s entire shareholding (i.e. 50%) in Firefly Networks Limited. (“Firefly”), subject to completion of closing conditions, for a consideration of Rs. 45 million. Upon transfer of aforesaid shareholding, Firefly would cease to be a Joint Venture of the Company,” said the company in Monday’s regulatory filing. 



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