Vi says no proposal as reported by the media being considered at the Board level

Vi issues clarifications in regulatory filings after BSE sought clarifications around the reported sale of assets to raise money.

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Vi (Vodafone Idea) yesterday night in a BSE filing stated that the company’s Board was not considering any of the proposals as reported by the media. The response came in revert to a clarification sought by the BSE over an Economic Times article stating that the cash strapped Vodafone Idea was looking to monetise assets to raise $1 billion.

The company in a regulatory filing said that it was constantly evaluating various opportunities for enhancing the stakeholder’s value.

As part of corporate strategy, the Company constantly evaluates various opportunities for enhancing the stakeholders’ value. As and when such proposals are considered by the Board of Directors of the Company warranting disclosures, the Company shall comply with the disclosure obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulation”). Currently, there is no proposal as reported by the media that is being considered at the Board,” said Vi in a regulatory filing.

Vi in a separate regulatory filing played down the rumours around the sale of its data centre business and land meant for data centres. BSE had sought clarification from the company regarding a Data Center Dynamics piece stating Vodafone Idea being open to selling data centre business and land meant for data centres.

“The data centre business and the land meant for data centres referred to in the news item is owned by one of the subsidiary companies, which is an unlisted entity and is not a material subsidiary. Further, the said assets were not material warranting disclosure under the SEBI
Listing Regulations,”
said Vi in a regulatory filing.

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Avatar of Basil Kannagi Arasu
Basil Kannagi Arasu

Editor-in-chief

Basil keeps an eye on the latest happenings in the Telecom sector. In his free time, you can find him streaming the Premier League which he started watching in 2013.

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