January 20, 2022

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Govt doesn’t want to run Vodafone Idea; fundraising plans to continue: VIL CEO assuages concerns

A day after Vodafone Idea Ltd opted to convert interest on dues to government equity, its CEO on Wednesday said the government had made its position amply clear that it does not want to run the telco, and added that existing promoters are fully committed to managing and running the company’s operations. Vodafone Idea (VIL) on Tuesday announced its decision to opt for converting about Rs 16,000 crore interest dues liability payable to the government into equity, which will amount to around 35.8 per cent stake in the company.

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