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Vodafone Idea seeks to convert payment debts into equity, potentially raising government stake to 49%.
Vodafone Idea (Vi), a struggling telecom company in India, has asked the Department of Telecommunications (DoT) to convert its upcoming payments for spectrum and adjusted gross revenue (AGR) into equity shares.
This move could increase the government's stake in Vi from 22.6% to 49%.
Vi is facing financial difficulties due to large regulatory payments and has requested urgent support from the government to help manage its cash flow.
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Vodafone Idea busca convertir las deudas de pago en acciones, potencialmente elevando la participación del gobierno al 49%.