Vodafone could sell its entire $2.3 billion stake in Indus Towers, an Indian tower company, this week.

As reported by Reuters last week, the telco wants to make the sale to repay its debt, which stands at around $42.17 billion.

Vodafone currently owns 21.5 percent of Indus via various group entities.

Sources told the publication that Vodafone has hired Bank of America, Morgan Stanley, and BNP Paribas to manage the stake sale.

It's also noted that the telco could sell a partial stake.

Indus operates around 220,000 cell towers in India, with Bharti Airtel also a shareholder in the company. Airtel's stake in the company is worth 47.8 percent.

Private equity giant KKR and Canadian fund CPPIB sold their stakes in Indus in February.

Earlier this month, Airtel warned Vodafone Idea (Vi) to settle its dues with Indus or risk losing access to its 5G towers.

Vi, which was created in 2018 following the merger of Vodafone India and Idea Cellular, is estimated to owe Airtel $1.2 billion.

A sale of the tower unit for Vodafone would add to the recent $5bn sale of its Spanish business to Zegona, plus the planned $8.7bn sale of its Italian unit to Swisscom.