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Indian government converts Vodafone Idea's debt into equity, raising its stake to nearly 49%.
The Indian government has converted Vodafone Idea's outstanding spectrum dues into equity shares, increasing its stake in the company to 48.99%.
This move, worth 36,950 crore, aims to provide financial relief to the telecom operator, enhancing its liquidity and ability to upgrade its network.
Despite the government's increased stake, Vodafone Plc and the Aditya Birla Group will retain operational control.
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El gobierno indio convierte la deuda de Vodafone Idea en acciones, elevando su participación a casi el 49%.