Vodafone Idea lenders dial Finmin, want relief for telco

Vodafone Idea lenders dial Finance ministry, want relief for telco
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Synopsis
The lenders’ move comes as the telco has written to the telecom department (DoT), pointing out that its fundraising talks have hit a wall because investors are wary of putting money into a sector hampered by “below-the cost” consumer tariffs.
Vodafone Idea has further said that it needs a year more to make spectrum payments of Rs 8,292 crore as it’s not generating adequate cash from operations and adjusted gross revenue (AGR) payments are siphoning away liquidity.
A consortium of lenders to
Vodafone Idea (Vi) has sought the finance ministry’s intervention to provide some relief to the cash-strapped operator, raising concerns over the telco's survival amid dwindling cash balances.

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