India: Vodafone Idea’s $3.6b rights issue to cause massive dilution

A retail shop owner speaks on his mobile phone outside his closed shop shutters painted with an advertisement for Vodafone at a market in Chennai December 30, 2013. REUTERS/Babu/Files

Vodafone Idea Ltd, India’s largest telecommunications company by subscribers, is selling $3.6 billion worth of shares in a rights issue at a discount of about 60 percent, which will more than triple its outstanding shares.

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