Vodafone Idea gets a lifeline, govt to hold 33% stake

The Centre finally stepped in to resurrect Vodafone Idea, the ailing telecom operator, and is going ahead to pick up around 33% stake in the company to emerge as the largest shareholder. The move came after promoters Aditya Birla group and Vodafone Plc assured that they will raise as much as 20,000 crore, apart from kickstarting the exercise to launch the high-speed 5G network.

from Times of India https://ift.tt/5Ukra8J
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