On the issue of converting certain dues to Government into equity, the Communications Ministry has categorically said that the Government of India (GoI) has not paid anything to acquire the shares of any telecom service provider (TSP).
Vodafone Idea Share Price: Shares of Vodafone Idea on Wednesday surged nearly 13 per centin afternoon deals as the stock staged a comeback from Tuesday's crash.
A day after Vodafone Idea Ltd opted to convert interest on dues to government equity, its CEO on Wednesday said the government had made its position amply clear that it does not want to run the telco, and added that existing promoters are fully committed to managing and running the company's operations.
Telecom operator Vodafone Idea on Tuesday said that the government will own around 35.8 per cent of the country's third-largest wireless phone operator after its board approved the conversion of dues into equity. Voda Idea's board approved the conversion of the full amount of interest related to spectrum auction instalments and dues owed to the government for use of the airwaves into equity.