Govt doesn't want to run Vodafone Idea; existing promoters to manage operations: CEO
The Hindu
The statement comes after Vodafone Idea’s shares crashed follwoing its decision of converting about ₹16,000 crore interest dues liability payable to the government into equity
A day after Vodafone Idea Ltd. opted to , 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 ₹16,000 crore interest dues liability payable to the government into equity, which will amount to around 35.8% stake in the company.
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