‘Vodafone Idea, Tata Tele not to become PSUs’

Govt. not to become a board member

The government on Wednesday said the three telecom companies, namely Vodafone Idea Ltd. (VIL), Tata Teleservices Ltd. and Tata Teleservices (Maharashtra) Ltd. (TTML), which have opted to convert certain statutory dues into equity shares in favour of the government, will not become public sector undertakings.

“These three companies will not become PSUs. These three companies will continue to be managed as professionally run private companies,” the Department of Telecom (DoT) clarified in a statement, adding that the government can sell these shares at appropriate time and thereby receive the amounts due.

On the impact of the move on the industry, the DoT said the government’s reforms and support in times of a pandemic means that companies will be able to sustain their business.