Govt has no intention of running Vodafone Idea, says telecom firm’s CEO
– World Affairs SRS
“The government is very clear. They want us to run the company. They want the promoters to run the company,” Vodafone Idea Managing Director and CEO Ravinder Takkar said in a media conference on Wednesday. “I am saying this on the basis of personal talks with the government.”
The government will hold 35.8 per cent stake in the financially stressed firm. This makes the government the largest shareholder in Vi, a joint venture between the Aditya Birla Group and UK-headquartered Vodafone.
Vodafone Idea is not the only telecom company in which the government is taking stake. According to the announcements made on Tuesday, it will also hold a 9.5 per cent stake in Tata Teleservices (Maharashtra) Limited (TTML) through the same route. The latest development implies the government’s stake in four telecom companies in the country including two state-owned firms Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL).
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