Vodafone Group Public Limited Company (LSE:VOD) is in advanced talks with American Tower Corporation (NYSE:AMT) (ATC), Crown Castle International Corp. (NYSE:CCI), Brookfield Asset Management Inc. (TSX:BAM.A) and other long-term sovereign and pension money managers to sell its remaining 21% stake in Indus Towers Limited (NSEI:INDUSTOWER) through block deals, three people aware of the matter told ET. Vodafone, Vodafone Idea Limited (NSEI:IDEA) (Vi), ATC, Crown Castle and Brookfield declined to comment on ET's queries till press time.

Once Vodafone sells its stake in Indus Towers, it will mark the British telco's exit from the passive telecom infrastructure business in India. People aware of the matter said Vodafone has hired Bank of America and Morgan Stanley for the proposed share sale, which could either be in a single or multiple tranches and to one or more investors. Bank of America and Morgan Stanley did not comment.

Bankers are awaiting relatively stable market conditions to launch the share sale in Indus Towers. But Vodafone is keen on closing the deal in the first quarter of the next financial year, said the people.