Vodafone announced this Wednesday that has sold 484.7 million shares of Indus Towers Limited, which represent 18.0% of the firm's share capital, for 153,000 million rupees, which represents 1,700 million euros. The proceeds from the operation «will be used to substantially repay Vodafone's existing lenders in relation to outstanding bank loans of 1.8 billion of euros secured against Vodafone's Indian assets,» the company explained. After the sale, Vodafone still owns 82.5 million Indus shares, which is equivalent to 3.1% stake in the company.