Vodafone Group Plc’s stake in Vodafone Idea will be 28.5 percent, Aditya Birla Group’s stake will be 17.8 percent. The government will have 36 per cent stake.
Vodafone Idea’s board has decided to convert Due into equity.
Vodafone Idea Limited said that the Government of India will acquire 36 percent stake in the company. The company’s board has approved the proposal to convert the company’s liability into equity. According to the Bloomberg report, Vodafone Group Plc’s stake in Vodafone Idea will be 28.5 percent, Aditya Birla Group’s stake will be 17.8 percent.
Recently, the government had taken many important decisions giving relief to the telecom sector. The government gave a moratorium of 4 years for payment of spectrum charges and AGR dues. However, the calculation of interest will continue during this period. If the company wants that part of the interest should be converted into equity, then the government had also approved it. Under this decision of the government, the board of Vodafone Idea Limited has decided to convert Due into equity.
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