Chennai: Shareholders and creditors of telecom operator Vodafone Idea have approved plan to transfer optical fibre assets to its wholly-owned subsidiary Vodafone Towers Limited.
“The proposed resolution approving the scheme was passed with requisite majority by equity shareholders of the company,” Vodafone Idea informed BSE on Saturday.
The company had proposed to transfer its telecom fibre infrastructure to Vodafone Towers before monetising it and approached the National Company Law Tribunal Ahmedabad on 11 April, for its approval. The meeting of shareholders and creditors of the company were separately held on 6 June.
“The proposed resolution approving the scheme was passed unanimously by secured creditors and unsecured creditors of the company,” Vodafone Idea said.
According to an industry source, Vodafone Idea (VIL) has received valuation of around Rs 15,000 crore for its around 1.56 lakh kilometre long telecom fibre assets.