Govt has no intention to run Vodafone Idea, says telecom firm’s CEO


The govt has no desire to run Vodafone Idea or in appointing a board member, reported the company’s top rated executive a working day after the telecom agency agreed to convert curiosity on deferred statutory dues.


“The governing administration is incredibly crystal clear. They want us to run the enterprise. They want the promoters to operate the business,” claimed Ravinder Takkar, controlling director and main govt officer of Vodafone Strategy at a media meeting on Wednesday. “I’m expressing that primarily based on particular conversation with the authorities.”







The government will individual 35.8 for each cent in in the financially-pressured company. This can make the government the one-major shareholder in Vi, a joint undertaking concerning the Aditya Birla team and British isles-headquartered Vodafone.

Takkar he expects the entire course of action to conclude in the coming months. Given that most of the firm’s economical committment is to the federal government, “it was crystal clear to us that converting some of debt to equity is a excellent choice for the organization to reduce its debt going forward”.


Vodafone Thought is not the only telco in which the government is buying up a stake. It would also have 9.5 for every cent in Tata Teleservices (Maharashtra) Restricted (TTML) through the exact same route, according to announcements manufactured on Tuesday. The latest enhancement indicates federal government holding in four telcos in the country which include two condition-owned companies Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Phone Nigam Ltd (MTNL).

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