Breaking Kumar Mangalam Birla willing to give up his stake in Vodafone Idea to a PSU

[rahul1117kumar]

Kumar Mangalam Birla, chairman of Vodafone Idea, has informed the Government that the Aditya Birla Group (ABG) is willing to give up his stake in the debt-laden telco to any public or private entity who can keep the company as a going concern.

"It is with a sense of duty towards the 27 Crore Indians connected by ViL, I am more than willing to hand over my stake in the company to any entity, public sector, government domestic financial entity, or any other, that the government may consider worthy of keeping the company as a going concern. I and my team will be more than happy to work with the government to urgently explore all possible options and solutions to save the company and strengthen it in the national interest without any consideration of our private interest," Birla said in his letter dated June 7 to Rajiv Gauba, Cabinet Secretary.

Kumar Mangalam Birla willing to give up his stake in Vodafone Idea to a PSU - ET Telecom

Vodafone Idea: This is the first time that one of Vi's parents have spoken to the government of their plans to offload their stake, fearing a collapse of the loss-making telco.

telecom.economictimes.indiatimes.com

 

[Ashok Varma]

Kumar Mangalam Birla, chairman of Vodafone Idea, has informed the Government that the Aditya Birla Group (ABG) is willing to give up his stake in the debt-laden telco to any public or private entity who can keep the company as a going concern.

"It is with a sense of duty towards the 27 Crore Indians connected by ViL, I am more than willing to hand over my stake in the company to any entity, public sector, government domestic financial entity, or any other, that the government may consider worthy of keeping the company as a going concern. I and my team will be more than happy to work with the government to urgently explore all possible options and solutions to save the company and strengthen it in the national interest without any consideration of our private interest," Birla said in his letter dated June 7 to Rajiv Gauba, Cabinet Secretary.

Kumar Mangalam Birla willing to give up his stake in Vodafone Idea to a PSU - ET Telecom

Vodafone Idea: This is the first time that one of Vi's parents have spoken to the government of their plans to offload their stake, fearing a collapse of the loss-making telco.

telecom.economictimes.indiatimes.com

No one saves Vi now, otherthan Govt. as TRAI not considered Floor tariff.

No tariff floor pricing under Trai consideration: Official - ET Telecom

Last year, Trai had declined a proposal from Vodafone Idea which had come following industry group Cellular Operators Association of India (COAI) letter to sector regulator seeking setting up of a floor price for data services.

telecom.economictimes.indiatimes.com

 

[Esmail]

No one saves Vi now, otherthan Govt. as TRAI not considered Floor tariff.

Vi needs some concrete measures in the near term if it has to survive. If they are unable to raise funds then they will have to liquidate their assets.

 

[A^00P]

Kumar Mangalam Birla, chairman of Vodafone Idea, has informed the Government that the Aditya Birla Group (ABG) is willing to give up his stake in the debt-laden telco to any public or private entity who can keep the company as a going concern.

"It is with a sense of duty towards the 27 Crore Indians connected by ViL, I am more than willing to hand over my stake in the company to any entity, public sector, government domestic financial entity, or any other, that the government may consider worthy of keeping the company as a going concern. I and my team will be more than happy to work with the government to urgently explore all possible options and solutions to save the company and strengthen it in the national interest without any consideration of our private interest," Birla said in his letter dated June 7 to Rajiv Gauba, Cabinet Secretary.

Kumar Mangalam Birla willing to give up his stake in Vodafone Idea to a PSU - ET Telecom

Vodafone Idea: This is the first time that one of Vi's parents have spoken to the government of their plans to offload their stake, fearing a collapse of the loss-making telco.

telecom.economictimes.indiatimes.com

What kind of logic is this i will give up my stake to psu .... Now where in news states that is for free

He should work with his team that how are they going to pay for penalties

 

[rohitvatsa]

Just another ploy not to pay the outstanding debt by ABG

 

[greylala91]

Vi has everything they need to become a premium network. Be the Apple of telecom networks and people will flock in. I thought Airtel would do it, but it got caught up in Jio's war

 

[iDJ]

Vi has everything they need to become a premium network. Be the Apple of telecom networks and people will flock in. I thought Airtel would do it, but it got caught up in Jio's war

But they have a $30 billion debt as well.

 

[iDJ]

https://twitter.com/x/status/1422438912035803148

Source

 

[Esmail]

https://twitter.com/x/status/1422438912035803148

Source

That's expected when the promoter offers to sell his complete stake and exit the venture. It shows lack of confidence and clarity of strategy. The share prices are bound to fall.

 

[Bapun]

https://twitter.com/x/status/1423256995054772228

Source